Reverse mortgages are a relatively new product to the financial industry. The concept of a reverse mortgage can be very beneficial especially for seniors who have run out of assets to draw from to maintain their standard of living. In simple terms, a reverse mortgage allows a borrower to cash out a certain amount of money from the equity in their home to use as they wish.
Many wonder about the value of reverse mortgages and whether this financial tool is right for them. In this three part series, Bob interviews Rich Barry of Acutrust, and asks the tough questions.
Mortgage interest deduction may be on the chopping block as congress looks for ways to cut the deficit. However, eliminating this incentive could jeopardize the economic recovery. Listen to the discussion: Home Mortgage Interest Deduction