Today’s article is a part of the Forward Thinking Education Series presented by Legacy Bank, the Latino Chamber of Commerce and the Pueblo Chieftain. Webinars further discussing financial topics can be found on the Latino Chamber of Commerce Facebook page at: https://m.facebook.com/PuebloLCC/
Reverse Mortgages were created in 1961 to allow qualified homeowners to convert their home equity into cash without selling their home or taking out a home equity loan. Historically, reverse mortgages have allowed people to generate funds to cover a wide variety of living expenses without tapping retirement or savings accounts.
In the few short months since the arrival of the COVID-19 pandemic, many people have had their income reduced or halted, watched the value of their retirement plans deteriorate and
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