Forward and Reverse Mortgages: When To Take Them Out and When to Pay Them Off

Money For the Rest of Us

How to decide when to take out a home mortgage and whether to pay it off early. How reverse mortgages can be a helpful retirement tool.

Topics covered include:

• Why it is more difficult to get a mortgage today
• How federal government mortgage guarantees lead to lower mortgage rates
• How to analyze whether to pay off your mortgage early
• The differences between personal risk, market risk, and aspirational risk
• How reverse mortgages work and how they can be useful as a retirement income tool
• What are the costs of reverse mortgages

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Show Notes

Quarterly Report on Household Debt and Credit 2021 Q1—Federal Reserve Bank of New York

Selling Guide: Lender Letter LL-2021-03, Impact of COVID-19 on Originations (03/11/2021)—Fannie Mae0

Overreliance on Fannie and Freddie Violates Their Federal Charters by Norbert J. Michel, Ph.D.—The Heritage Foundation

Mortgage Debt and Asset Allocation, Video by Ben Felix

Plus Episode 329: Robinhood, Mortgages and ETF Transparency—Money For The Rest of Us

Beyond Markowitz: A Comprehensive Wealth Allocation Framework for Individual Investors by Ashvin B. Chhabra

How the HECM Program Works—U.S. Department of Housing and Urban Development

Incorporating Home Equity into a Retirement Income Strategy by Wade D. Pfau

Related Episodes

44: Should You Pay Off Your Mortgage?

238: The U.S. Is More Socialist Than Denmark Regarding Home Mortgages

317: How To Buy In A Hot Housing Market

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