There are so many financial planning strategies that make sense when using reverse mortgages. Some times adult children of aging parents need just as much or more education than the seniors themselves. After all, this is a relatively new concept, and often seems to good to be true. The important thing to remember is that reverse mortgages (also called Home Equity Conversion Mortgages) are backed by the federal government, and protections have been put in place for seniors and their families.

Heirs need to understand that with proper estate planning, they stand to inherit more than the value of their parent