Many physician homeowners have been roped into watching a commercial for a company selling reverse mortgages, usually presented by a stalwart actor that we like and trust. Whether a reverse mortgage is right for you or not, it’s a good idea to understand exactly what it offers and what it plans to take in return.
Although the name reverse mortgage may imply some type of payout, it is important to remember that it is basically a loan. According to the Federal Trade Commission (FTC), a reverse mortgage is a loan available to older adults that is basically an advance against your home equity. You convert your home equity into monthly payments, which are usually tax-free, and you are able to retain the title of your
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