Healthy Living: Reverse Mortgages
A reverse mortgage is a mortgage you can secure when you’re 62 years or older so you can stay in your home as you age.
The Federal Trade Commission explains it as turning your equity into cash without having to sell your home.
But, the FTC warns they can be tricky so you need to do your research.
We’ll tell you the dangers of reverse mortgages in today’s Healthy Living.
Heather says some other options include Medicaid programs to help pay for nursing home care, and there are waiver programs through Medicaid that help pay for assisted living and home care.