reverse mortgages

Costs of Long-Term Care Rise While Payment Options Narrow

It is a cruel paradox: As the cost of long-term care rises and the number of people needing it grows, traditional options for paying for these supports and services are narrowing. Traditional private long-term care insurance is largely disappearing from the marketplace. Reverse mortgages, already something of a niche product, are likely to become harder to get-- especially for those [...]

Reverse Mortgages Fall Short of Their Potential, Says a New Government Report

Reverse mortgages, which hold great promise as a way for the frail elderly to pay for long-term care costs while living at home, are failing to do the job. Few homeowners ever take out these loans, and those who do, paradoxically, may be putting their financial security in old age at greater risk. According to a new report  to Congress [...]

New Problems with Reverse Mortgages

Home equity can be a valuable tool for cash-strapped seniors who need to fund their long-term care needs. But one method, reverse mortgages, is running into a raft of new problems, including higher interest costs and a lawsuit by AARP that promises to be a public relations nightmare for the industry.   Unlike traditional mortgage loans, RMs are a way for those 62 and [...]

By |2011-03-16T17:57:47-04:00March 16th, 2011|long-term care financing|1 Comment