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Using A Reverse Mortgage To Pay for Long-term Care and Avoid A Nursing Home Category: Fha Mortgage
Alternatives to Long Term Care Insurance: Using a Reverse Mortgage and Other Methods to Pay for Long-term Care CostsBecause long-term care insurance requires you to be in good health, this planning option is not available to everyone, especially older applicants for whom the premiums may also be prohibitive. If you are at least 62 years of age and you own your home, you could use a reverse mortgage to pay for care at home or for a long-term care insurance policy that otherwise may be unaffordable.A reverse mortgage is a means of borrowing money from the amount you have already paid for your house.
