In 1978, James Garner won the People's Choice Award for Favorite Male TV Performer. More recently, you may have seen him in a new TV role -- as spokesman for reverse-mortgage lender Financial Freedom.
Reverse mortgages let homeowners 62 and older convert equity to cash, which needn't be repaid as long as they live in the home. New regulations raise the loan limit to $625,500. And starting this year, seniors can use loan proceeds to buy a new home. At a time when retirement savers are vexed by the vagaries of the stock market and the economy, commercials featuring the star of Maverick and The Rockford Files that promise to turn equity into tax-free money sound pretty good.
Financial Freedom is upfront about the need to explore other options -- such as applying for a home-equity line of credit, downsizing or postponing retirement -- before taking out a reverse mortgage. And it steers clear of troubling marketing claims spotted elsewhere: that reverse mortgages are a government benefit (they're not) or that you can never lose your home (you can if you don't pay taxes and insurance).
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Reverse mortgages have relatively high upfront costs, so they're best if you plan to stay put for a while. They're not a fix for temporary hardship (see kiplinger.com/links/reversemortgages).
-
Stocks Keep Climbing as Fed Meeting Nears: Stock Market TodayA stale inflation report and improving consumer sentiment did little to shift expectations for a rate cut next week.
-
Your End of Year Insurance Coverage Review ChecklistStop paying for insurance you don't need and close coverage gaps you didn't know about with this year-end insurance review.
-
Crypto Trends to Watch in 2026Cryptocurrency is still less than 20 years old, but it remains a fast-moving (and also maturing) market. Here are the crypto trends to watch for in 2026.
-
Amazon Resale: Where Amazon Prime Returns Become Your Online BargainsFeature Amazon Resale products may have some imperfections, but that often leads to wildly discounted prices.
-
Roth IRA Contribution Limits for 2026Roth IRAs Roth IRAs allow you to save for retirement with after-tax dollars while you're working, and then withdraw those contributions and earnings tax-free when you retire. Here's a look at 2026 limits and income-based phaseouts.
-
How to Search For Foreclosures Near You: Best Websites for ListingsMaking Your Money Last Searching for a foreclosed home? These top-rated foreclosure websites — including free, paid and government options — can help you find listings near you.
-
Luxury Home Prices Rise as the Rich Dodge High Mortgage RatesLuxury home prices rose 9% to the highest third-quarter level on record, Redfin reports, growing nearly three times faster than non-luxury prices.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute VacationTravel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How Much Life Insurance Do You Need?insurance When assessing how much life insurance you need, take a systematic approach instead of relying on rules of thumb.
-
When Does Amazon Prime Day End in October? Everything We Know, Plus the Best Deals on Samsonite, Samsung and MoreAmazon Prime The Amazon Prime Big Deal Days sale ends soon. Here are the key details you need to know, plus some of our favorite deals members can shop before it's over.
