In a recent article by MarketWatch, a financial planner suggests that retirees facing increasing property taxes may find a reverse mortgage to be a beneficial solution. Reverse mortgages allow homeowners age 62 and older to tap into their home equity without making monthly mortgage payments, providing them with a potential source of income during retirement. The financial planner emphasizes that this financial tool can help retirees alleviate the burden of rising property taxes while allowing them to remain in their homes.
Key points from the article include:
– Reverse mortgages can be a useful option for retirees dealing with escalating property taxes
– Homeowners aged 62 and older can access their home equity without monthly mortgage payments through reverse mortgages
– Utilizing a reverse mortgage can help retirees address financial challenges in retirement, such as rising property taxes, while enabling them to age in place in their homes.
You can read this full article at: https://www.housingwire.com/articles/financial-planner-reverse-mortgages-can-help-retirees-with-high-property-taxes/(subscription required)
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