By Richard L. Harter CPM,CSM, CRES
Retirement and Financial Analyst
With 70,000 baby boomers per month entering their 60’s, the lenders for Reverse Mortgages (Home Equity Conversion Mortgage (HECM)) are cranking up their advertising. The Reverse Mortgage and Bi-weekly Mortgages are advertised with certain benefits that sound very attractive. The primary purpose of these two loan types is to generate unnecessary fees and commissions for the lender. What they do not tell you is that you can accomplish the same thing using existing banking instruments without doing a refinance, at essentially zero cost and fees.