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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.