Reverse Mortgage AARP
Here we look at AARP's take on reverse mortgages and their guidance. We will be updating this site regularly.
AARP's booklet, available free from AARP has a good 3rd party un-biased take on reverse mortgages. Overall we feel that they have a don't borrow unless you need the money mentality. It seems their guidance hasn't been updated for the past 5 years during which there have been some monumental changes in the reverse industry.
We are contacting the AARP to get updated guidance on how they feel about Borrowers taking the Saver with reduced upfront cost to invest in different items.
AARP was founded in 1958 and is not affiliated with the federal government. There are 2 arms of AARP, AARP Services Inc. which is for profit and offers suplimental medical insurance, discounts on prescription drugs, long term care insurance, car, home and life insurance. The other arm is the non-profit AARP Foundation.
AARP is one of the most powerful lobbiest groups in the United States, they have an excellent reputation for looking out for seniors best interests and we feel that this carries through to their guidance on reverse mortgages.