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Another Case for Reverse Mortgages

May 20, 2016 by admin

With more and more people taking a look at the financial sense of Reverse Mortgages, the Wall Street Journal weighs in with another article on why they might make the most dollars and cents for you.

“Intuitively, there are two reasons why opening a reverse mortgage earlier in retirement has the potential to improve retirement efficiencies despite the reverse-mortgage costs for those wishing to remain in their homes.

First, coordinating draws from a reverse mortgage reduces the strain on investment portfolio withdrawals, which helps to manage the sequence of returns risk facing retirees. Retirees are more exposed to investment volatility because volatility has a bigger impact on financial outcomes when taking distributions from the portfolio as compared with when adding new funds to the portfolio. Reverse mortgages provide a buffer asset to sidestep this sequence risk by providing an alternative source of spending after market declines.

The second potential benefit for opening the reverse mortgage early, especially when interest rates are low, is that the principal limit that can be borrowed from will continue to grow throughout retirement. Reverse mortgages are non-recourse loans, and for sufficiently long retirements, there is a reasonable possibility that the line of credit may grow to be larger than the value of the home.”

http://blogs.wsj.com/experts/2015/11/30/the-new-case-for-reverse-mortgages/

When you’re done, take a look at our Reverse Mortgage Center and see how we can help you reach your goals.

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Filed Under: Reverse Mortgages

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Bedford Office
151 Market Square
Bedford, Virginia 24523
(540) 586-1973 Phone
(540) 586-9052 Fax

Licensed by the National Mortgage Licensing System (NMLS) # 393152

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We used Blue Ridge Mortgage when we first purchased our home in 2006, when we refinanced in 2012, and again when we refinanced this year in 2021. We keep going back because they are so easy to work with, diligent, courteous, and move quickly on our behalf. Lisa kept us informed every step of the way and made sure that we could do as much at home as possible so that we only had to come in to close. I will always recommend them and will continue to use them in the future!

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I just closed on my first house, and Blue Ridge Mortgage made the process so easy for me. I mainly worked with Lisa, but Sandy was there to answer any questions I had as well. Lisa was very thorough with me and explained of the options I had. The process was very smooth and I highly recommend Blue Ridge Mortgage! Lisa and Sandy will help you with all of your mortgage and refinancing needs!

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