Seniors consider reverse mortgage
The Martins had plenty of money in the bank.
Or so they thought.
Robert Martin got cancer, and the bills started to pile up. Insurance helped with much of the costs associated with Robert’s treatment, but some still fell to the septuagenarian couple.
Reverse mortgages are loans taken out on home equity. They are designed specifically for seniors 62 years and older to use that equity to come up with cash for everything from medical bills to vacations.