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Veteran Services: Finance Questions

Finances

You're working, and you've got a family that depends on you - both now and down the road. Where do you invest your money? Do you borrow against the equity in your house? Through a preferred provider relationship with USAA, The American Legion can provide expert financial advice to just about any question.

Questions & Answers

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Financial Questions & Answers

Question:

Do you recommend any reverse mortgage lenders? – C.D.

Answer:

For many, home equity is their biggest asset and a reverse mortgage can help them turn that equity into an income stream. While we can’t recommend a specific lender, what we can say is that you should compare multiple lenders. A disadvantage to reverse mortgages is that fees tend to be fairly high. The best course of action is to shop around and make apples-to-apples comparisons to determine what works best in your situation.