U.S. homeowners aged 62+ saw their home equity soar to a record $10 trillion in 2021, making it prudent for homeowners and their advisors to discuss ways to incorporate housing wealth into retirement planning decisions.
If you ask people what they think about reverse mortgages, you are sure to get some strong opinions. Unfortunately, many people form those opinions based on misconceptions about the way reverse mortgages work.
With a home equity loan, homeowners can borrow against the equity in their house to fund other projects. Learn which type of loan could work best for you.