Updated 12/1/2023

You may have encountered questions from clients who are curious about reverse mortgages. Perhaps you have become more curious yourself. After all, reverse mortgages have come a long way in recent years, and their potential benefits are becoming harder to ignore.

This checklist serves as a guide for exploring the pros and cons with using a reverse mortgage. With your guidance, clients will have a better understanding of whether a reverse mortgage might benefit their personal situation.

This checklist covers the key issues to consider when using a reverse mortgage, such as:

• Determining whether you and/or your spouse are eligible for a reverse mortgage, and the implications for non-borrowing spouses.
• Considering the different ways a reverse mortgage can be used, and how certain strategies can be implemented to complement one’s financial planning goals.
• Understanding the risks inherent with using a reverse mortgage, and knowing under what circumstances using one may not be advisable.
• Exploring other alternatives a client may consider instead of a reverse mortgage, and understanding how those alternatives may or may not achieve the same outcome.

Click here for a client-facing email template.