Revisiting the Tenure Payment & the HECM as a Long Term Solution
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Pensions or defined benefit plans have become nearly as rare as the California Condor.
It’s a bleak outlook for today’s retiree but there is a silver lining. It’s been overlooked especially with the recent popularity of the fixed rate product and lump sum withdrawal. The adjustable rate HECM and tenure payments. Tenure or lifetime payments from a reverse mortgage providing a steady and predictable stream of income. A Recent article by Phillip Moeller in Money Magazine entitled “How to turn your home into a pension” said…