A Reverse Mortgage is a financial tool that is often misunderstood both by consumers and by financial service professionals. Nobel Prize-winning economist Robert C. Merton, a finance professor at MIT’s Sloan School of Management, recently stated “Americans have wrongly steered clear of reverse mortgages. This needs to change. Individuals and industry leaders need to better understand how reverse mortgages can be effectively used. A more widespread and better understanding of reverse mortgage strategies needs to occur in order to better serve America’s senior population and retirees.” -- Reverse Mortgages Can Be A Retiree's Saving Grace.  Author: Jamie Hopkins, Professor, The American College and published on Forbes.com

When analyzing housing wealth as a divorce asset, a reverse mortgage may be a vehicle to provide secure housing for one or both parties or a source for settlement options for homeowners age 62 or older. During this presentation, we’ll walk through:

• Preparing a baseline equity (net) evaluation of the property during discovery phase;
• Title and debt responsibility of both parties pertaining to the marital home before and after divorce is final;
• A nuts and bolts overview of reverse mortgage mechanics, qualifications and borrowing options; and
• A review of research and case studies using reverse mortgage within the plan.