Doing Good and Doing Well
Employing reverse mortgages and gift annuities can help planned-giving officers guide elderly donors into mutually beneficial arrangements.
RMs are government-insured loans reserved for homeowners who are 62 years of age and older. By “reversing” the mortgage process, the senior homeowner (mortgagor) gets paid by the bank (mortgagee), unlocking equity the mortgagor might not have been able to access before. The older the donor, the greater the potential payout.
- People:
- Steffan F. Cress
- Places:
- Tampa, Fla.
Related Content
Comments
