Are Reverse Mortgages an Option While on Disability?
A 59-year-old disabled woman who’s having trouble making ends meet, despite collecting Social Security Disability benefits, asks if a reverse mortgage would be a good idea for someone in her situation.
The writers over at the Eagle-Tribune provide the scoop on who qualifies for reverse mortgages and how they can be useful to people who are “house rich and cash poor.”
In this woman’s case, a reverse mortgage isn’t an option, because in her state applicants must be 62 or older. But it may be a smart financial move for older disabled people.