It’s easy to advertise the benefits of the reverse mortgage without actually using it. It’s this disconnect that makes homeowners distrustful of brokers in the first place, however, I’m here to tell you that I have done a reverse mortgage for my own grandparents.WHY?Because I believe that, for some homeowners 62 years of age and older, who live in their primary residence and have enough equity, the reverse mortgage is the RIGHT option for them, offering financial security and the ability to live a stress free retirement.My grandparents did their reverse mortgage in June 2008, just as values began to crash here in South Florida, and took a lump sum–homeowners receive the full or partial reverse mortgage amount in one payment–to pay off their condo in Miami Beach.  They also took out the line of credit with the remaining balance to pay taxes and insurance on both properties yearly.Earlier this year, I looked at their value ($130k-140k) and what they owed ($140k), and they still had a credit line of $30k available.  Had they passed away that day, the 30k line of credit would have been lost.Instead, my aunt, uncle, and I (the rightful heirs to the property) decided to pull out the 30k and add it to my grandparents liquid assets so if they die today, owing 170k and having a value around 140k, we, the heirs, will simply sign over the property to the bank and Federal Housing Administration will cover the loses with the MIP. It is a “non-recourse loan”, meaning they can’t come after the 30k we put in the bank.There is no obligation for our services, and we do not pressure those who inquiry.  We simply educate and guide our clients. If you think a reverse mortgage is right for you, give us a call at PS Financial Services (888) 845-6630 to speak to one of our brokers or email