Author: Dave Boike, Retirement Resources
With a reverse mortgage, there are no limitations for how the homeowner chooses to spend the loans. Most individuals find that they just haven't saved enough money to last, and oftentimes, seniors elect a reverse mortgage to support long-term care or other medical needs that would otherwise bankrupt them. Yet many more take advantage of these funds to enjoy retirement; whether that includes travel, spoiling the grandkids, funding educations, or just to have a safety net.
