The option of tapping into home equity in the form of a reverse mortgage has long been an option for older adults who wish to age in place. And recently, there have been many changes to the program that are giving the Home Equity Conversion Mortgage (HECM) program a better name, explains a recent article from The Huffington Post.
There are some potential dangers for Baby Boomers as they move into retirement, the article explains. Being the sandwich generation, they could be dealing with their aging parents as well as supporting their own children who may have massive student loans and no job, but a reverse mortgage may be able to help retired boomers.
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