7 times a reverse mortgage loan can save your retirement


At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for

Which bank should I choose?

Get personalized bank recommendations in 3 easy steps.

Don Graves calls reverse mortgage loans the “Swiss army knife of retirement income planning.”

Graves, an adjunct professor of retirement income at the American College of Financial Services in Philadelphia, says the loan can be used strategically to address a range of retirement situations.

Unexpected illness or inadequate savings are just two of the times a reverse mortgage loan can be a true lifesaver — or retirement-saver.

But other situations can also benefit from a reverse mortgage loan.