You’ve seen the commercials for Reverse Mortgages. If you’re over 62 and have equity in your home, you tuck it away in case you need it down the road.
But if you’re considering a divorce, a reverse mortgage can become a useful tool. It could allow one spouse to remain in the home while relieving the financial burden on both partners.
HOW A REVERSE MORTGAGE CAN MAKE DIVORCE LESS (FINANCIALLY) PAINFUL
REVERSE MORTGAGES AND LIVING SEPARATELY.
Many couples who separate later in life find themselves unable to support the costs of two households.