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Rescue retirement with a reverse mortgage: Motley Fool 2010-02-24 Older people who are anxiously watching the status of their retirement portfolios may want to shore up their income with a reverse mortgage, an investing website advised recently. In an article posted on Wednesday, the Motley Fool noted the difficulties that many Americans are having with their retirement savings. Younger people have time on their hands, the Motley Fool said, and are likely to see their savings bounce back from recent swings in the market. Many middle-aged and older people are worried about their financial security in retirement, though. Even with Social Security benefits factored in, some Americans may not have sufficient retirement income to meet their needs - and, the Motley Fool counsels, reverse mortgages can be a source of cash for those people. Reverse mortgages aren't for everyone, the website notes. Before applying for one - or making any major financial decision - a person should do some research and determine their current and future money needs. Reverse mortgage facts are readily available online, but information-seekers should be careful to rely only on sources they trust.  |
