[Mike Roberts]

This is a common question I’ve heard and read over the years: I’ve been told to wait as long as possible to get a reverse mortgage. What is the best age to get one?

• This discussion was modified 1 year, 4 months ago by  Mike Roberts.
• This discussion was modified 1 year, 2 months ago by  Mike Roberts.

[Mike Roberts]

If you owe very little on your mortgage (or nothing at all), I would suggest getting a reverse mortgage as soon as you can and allocating the proceeds to the line of credit. The line of credit will grow and compound larger over time, giving you access to more equity in the future. The sooner you get the line of credit, the bigger it will grow over time.

• This reply was modified 1 year, 2 months ago by  Mike Roberts.