"I think nobody in Washington or in New York or any part of the United States really knows how bad the economy is because we don't know when we're going to come back out of the shutdown and people are going to go back to work back to school.
Right now the economy is as bad as anything I've seen in my lifetime, of course, and not since the great depression that we had numbers as bad." _ Rubinstein

That's not what you'd be hearing on CNN right now. They are talking about how the recovery is slowing. There is NO recovery. It's not just me talking about this, it's also some of the top economists in the country.

If you own your home and are over 62 years old you qualify for a HECM. Also known as a reverse mortgage. There are a lot of rumors and misinformation about reverse mortgages. I'll unpack the benefits of this product and how you can do a "pretend" reverse mortgage so you can see exactly what it could be for you. If you have over 50% equity in your house this is something you should look at today. You could set up a HECM line of credit. It's similar to a HELOC but it cannot be canceled. The HECM line of credit will go up every year, it compounds year after year. 

There is also a program called HECM for purchase. It works like this, you put 50% down and decide if you'd like to make payments or not. That means you can take the remaining money from the sale of your previous home and put it in your account. 

When we are in this kind of economic downturn it is not time to stick your head in the sand. Explore your options, get the facts, and make an informed decision.