Isn’t it selfish to get a reverse mortgage rather than leave my home equity to my children?

Some potential reverse mortgage candidates are concerned they will have less home equity to leave their heirs – until they actually speak with their heirs. Many adult children want to see their parents living comfortably and enjoying their retirement rather than struggling just to leave something behind when they die. Besides, a reverse mortgage can actually grant seniors the freedom to help their children and grandchildren with expenses while they are still alive and to see them enjoy it. And don’t forget: your heirs will still receive the remaining equity after the loan is repaid. Some people even use some of their Reverse Mortgage proceeds to purchase a life insurance policy to insure that their heirs will receive a fixed amount in addition to the remaining home equity.

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