Feb 04

Excerpt: That’s one reason Kyle Winkfield, a financial planner in Washington, D.C., recommends that homeowners with a potential savings shortfall open a reverse-mortgage line of credit now. “It’s better to have this and not need it than to one day need it and not have it available,” he says.Homeowners who set up a reverse-mortgage line of credit and do not use it until they run out of other funds have generally stronger results than those who do nothing until other retirement funds are dry. Tapping the equity line only when stocks are down, giving your portfolio a chance to recover, has similar benefits. The next time a silver-haired star urges you consider a reverse mortgage, it may be a sound suggestion. See More