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Ecology of Money

Should You Consider a Reverse Mortgage?

Reverse mortgages can be useful tools for some retirees, but mind the complexity and costs, says contributor John Wasik.

As financial devices, reverse mortgages (RMs) are like 3-D printers. They can do some interesting and useful things, but they are complex and can be expensive.

Reverse mortgages were originally designed for those who came up a little short when they reached retirement age. Today, however, they are being used for purposes other than just retirement income.