Does a Reverse Mortgage Affect Social Security and Medicare?
Reverse mortgages are becoming an increasingly popular financial tool for seniors looking to supplement their retirement income. These loans enable homeowners aged 62 and older to turn a portion of their home equity into cash. However, many potential borrowers are concerned about how taking out a reverse mortgage might impact their Social Security and Medicare benefits. This blog will explore whether reverse mortgages affect these crucial retirement benefits and provide clarity on what retirees need to know.
Understanding Reverse Mortgages: