Reverse Mortgage Daily published a good article on how U.S. reverse mortgages compare to those in other countries worldwide! While some countries have higher growth rates for the product, often with government support, U.S. reverse mortgages still have some advantages. According to author John Yedinak:
“Even after all the principal limit reductions, the Federal Housing Administration’s reverse mortgage is still the most competitive product in the world. There is no other reverse mortgage product that provides so much in proceeds with so many protections for the borrower and the heirs —not even close.”
Clearly more education is needed on the benefits, flexibility and advancements in the product in the United States.
Read the complete article to see how Americans can use reverse mortgages as a financial planning tool to ensure a better retirement.