Financial Planners: Chase’s HELOC Pause Could Give Reverse Mortgages and Advantage

The American College of Financial Services
Reverse Mortgage Daily
April 23, 2020

With the state of the COVID-19 financial market, JPMorgan Chase recently announced it would stop taking applications for home equity lines of credit (HELOCs). This means people may have to look elsewhere for financial relief, including reverse mortgages.

Wade Pfau, co-director of the New York Life Center for Retirement Income, says home equity conversion mortgages (HECMs) could be one of the solutions. For more of Pfau’s thoughts and other alternatives to stabilize in an unstable environment, read this article from Reverse Mortgage Daily.