NOTE: Check with your Florida Estate Planning Attorney or one from your state on the effects of a reverse mortgage on your estate planning goals.
Today, many financial planners and insurance agents are advising seniors to consider reverse mortgage as a way to pay for healthcare and/or home exspense.
Reverse mortgages allow seniors to use the equity in their homes to pay expenses and still live in their home. The money can either be paid in a lump sum payment or montly payments or be available as they need the funds. Some reverse mortgages can even be setup as a combination of the options.