Source: Reverse Mortgage Daily —
In spite of the reputational difficulties faced by the reverse mortgage product and the professionals in the business, the fact that the housing market is performing as generally well as it has been may end up leading real estate investors toward a new method they can use to fuel such investments: reverse mortgages. This is according to a column published at finance website ValueWalk, and republished by Entrepreneur.com.
“In the last decade, several real estate markets in the U.S. have been money-focused, while many homeowners, despite the equity of their properties, are cash poor,” the column reads. “This is especially so among many owners above 60, who might weigh the option of borrowing against their home’s equity, to invest in real estate and secure a decent income flow.”
Some are also simultaneously realizing that certain heirs may not necessarily want their home when such seniors pass away, the column says based on input from real estate investor Than Merrill.