How Reverse Mortgages Help You With Taxes In Retirement: How might you use a reverse mortgage to manage taxes in retirement? In this video, Bob Powell interviews Don Graves about how Reverse Mortgages help you manage Taxes In Retirement. Don is the president of the Housing Wealth Institute, the author of three books on reverse mortgages, and an adjunct instructor of retirement income at the American College of Financial Services.
A reverse mortgage, by way of quick definition, is a federally insured loan for those age 62 or better. There are some proprietary products as well, but the most common is the home equity conversion mortgage. It allows retirees to borrow money without giving up ownership or coming off title, and they don’t have to make a monthly mortgage repayment.
The most common use of the home equity conversion mortgage is the line of credit. A 65-year-old in an $800,000 home is able to get around $236,000 in a growing line of credit. The reverse mortgage line of credit is a growing line of credit. As you leave it in there, it’s just growing. And that’s going to become the foundation for all of these seven strategies we’ll talk about—the growing line of credit. Watch this free video to learn more about how Reverse Mortgages help you with Taxes in Retirement and find more videos featuring Don Graves at this link: https://www.finstream.tv/featured/don-graves/