ESTATE PLANNING TIP CORNER
This month’s tip courtesy of David Guelff, CRMP, NMLS 240164 CA BRE 00830931
It is better to establish a reverse mortgage “Line of Credit” loan sooner rather than later in life. A “LOC” has a growth rate that increases the value of the unused balance of the line over time. A line of credit established at age 62 and not used until age 75, would grow to an amount that far exceeds the initial FHA HECM loan amount.