· Using the proceeds of a reverse mortgage just to defer Social Security until 70 can increase a borrower’s benefits by 76 percent and prevent a borrower from draining their investments, which are also earning a return.
· Proceeds can be used to start a second career, buy a dream vacation home, downsize through a HECM for Purchase or simply help pay for the golden years.
· You are not required to make any payments for as long as you live in your home.
· You will remain the owner of the property and will be the only one on title.
· Any remaining equity is yours or your heirs.