Determining if a reverse mortgage Is right for you starts with education. Getting in touch with an expert is step one and it's easy to find a reputable one by making sure their company is a member of NRMLA - National Reverse Mortgage Lender's Association.
You can expect them to:
* not push you into anything, but rather take the role of adviser.
* clearly and simply explain what it is, how it works, how you can benefit, and what fees are involved.
* discuss what your obligations are which is basically keeping up maintenance on your home, paying property taxes, and maintaining adequate homeowner's insurance.
There are a half a dozen steps (to be discussed more later) and this is just the start to what can be a very beneficially step in meeting your income needs into your retirement years!