The economy has been somewhat of a mixed bag recently. Some have struggled to keep up with high inflation and high interest rates, while others have benefitted from a rising stock market and real estate prices.If you're someone who hasn't been able to keep up with bills or who simply wants to take advantage of higher home values without having to move, you might consider accessing your home equity via a reverse mortgage.
'For states without a reverse mortgage age limit, I understand that lenders making private reverse mortgage loans will offer such a reverse mortgage to borrowers who are 55 years of age or above,' says Milano.Qualifying before age 62 as a spouseAnother way to get a reverse mortgage if you're younger than age 62 is to be the spouse of someone who does meet this age requirement, even if filing for a federally insured reverse mortgage.