For some, the shock of seeing their lives suddenly altered regardless of their careful planning is devastating, but there is hope for many senior retirees with a government-backed reverse mortgage.

Over the last 8 days, the Dow Jones Industrial Stocks have lost 13.6%, which is roughly 1,500 points. While that does not qualify as the largest drop in stock prices in history, it is hurting Americans who have money in the stock market and in pension and 401K plans.

According to the Associated Press, a top congressional budget analyst now says that pension plans have lost as much as $2 Trillion by the last 15 months. CNBC’s analyst, Jim Cramer, was quoted on the Today show as saying Whatever you may need for the next five years, please take it out of the stock

market. Right now. that week. I do not believe that you should risk those assets in the stock market.

All the combination of all that news has a number of effects on senior homeowners who thought they had a retirement strategy in place to last all through their retirement years.

Post from: Reverse Mortgage Loan Blog

$2T Lost in Retirement: Seniors Eye Reverse Mortgages

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