This week, David Tourtillot of Mutual of Omaha Reverse Mortgage, featuring guest Dr. Wade Pfau, an esteemed economist and retirement researcher. The discussion focuses extensively on reverse mortgages, exploring their mechanics, benefits, and common misconceptions as a retirement planning tool. Key topics covered include the strategic use of the growing reverse equity line of credit as a buffer asset to manage market volatility, the non-taxable nature of reverse mortgage proceeds, and recent safeguards implemented by the federal government to make the product safer and more advantageous for homeowners aged 62 and older. The segment also addresses caller questions regarding the tax implications of using a reverse mortgage to offset Required Minimum Distributions (RMDs) and the advantages of a reverse mortgage line of credit over a traditional Home Equity Line of Credit (HELOC).
David is well known throughout the reverse mortgage industry and is one of only 165 professionals that have achieved the CRMP® designation (Certified Reverse Mortgage Professional) nationwide. David has been assisting the senior adult market since 2003 throughout the New England area. David specializes exclusively in reverse mortgages. David is a member of the National Reverse Mortgage Lenders Association (NRMLA) and adheres to their strict Code of Ethics and Best Practices Policy. David is passionate about helping seniors and takes great pride in treating all of his clients the same way he would treat his own mother & father. David’s commitment to listening intently to his clients’ goals and objectives allows him to design appropriate solutions that meet the needs of each client. David also prides himself on being a resource for his clients both during and after the reverse mortgage process. Check out Homestead Mortgage only at: https://www.myhomesteadmortgage.com
McNamara Financial is an Independent, family-owned, fee-only investment management and financial planning firm, serving individuals and families on the South Shore and beyond for over 30 years.
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