Securing home values against a crash with a reverse
It’s not a stretch to think some reverse mortgage originators may argue that with home values at historic highs and base interest rates below one-percent now is the time for older homeowners to consider securing their home’s value with a reverse mortgage. But is that the best choice? It’s a pivotal question that deserves further examination.
Surging home values could give one a sense of accomplishment and economic security despite the fact that both can be suddenly stripped away- a harsh reality that well-informed homeowners took to heart after the housing crash of 2008. Housing industry experts know that to assume continual home appreciation each year is absurd on its face. Yet, few homeowners have considered the consequences should their home’s values decline, even modestly.
So how can one secure their home’s accumulated equity? Simply put there are three ways:
