<description>&lt;p&gt;Rising property values have left many retirees rich on paper but short on cash, so are there options for those looking to utilise their home equity?&lt;/p&gt;&lt;p&gt;This week on the Friends With Money podcast, Money's Tom Watson is joined by Chris Grice, chief executive of National Seniors Australia, to discuss reverse mortgages, equity releases schemes and the government-run Home Equity Releases Scheme.&lt;/p&gt;&lt;p&gt;&lt;strong&gt;&lt;u&gt;&amp;nbsp;&lt;/u&gt;&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;00:00 Introduction&lt;/p&gt;&lt;p&gt;00:28 The 'asset rich, cash poor' dilemma&lt;/p&gt;&lt;p&gt;01:24 Exploring reverse mortgages&lt;/p&gt;&lt;p&gt;07:03 Addressing concerns about reverse mortgages&lt;/p&gt;&lt;p&gt;9:24 Equity release schemes&lt;/p&gt;&lt;p&gt;10:11 Introduction to the Home Equity Access Scheme&lt;/p&gt;&lt;p&gt;13:54 Comparing equity release options&lt;/p&gt;&lt;p&gt;16:02 Conclusion&lt;/p&gt;&lt;p&gt;&amp;nbsp;&lt;u&gt;&amp;nbsp;&lt;/u&gt;&lt;/p&gt;&lt;p&gt;#friendswithmoney #tomwatson #chrisgrice #reversemortgages #homeequity&lt;/p&gt;&lt;p&gt;Podcast Links:&lt;/p&gt;&lt;p&gt;&lt;a href="https://apple.co/3mV0Cbr" rel="noopener noreferrer" target="_blank"&gt;Listen on Apple Podcasts&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://spoti.fi/3fSPI2h" rel="noopener noreferrer" target="_blank"&gt;Listen on Spotify&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://moneymag.com.au/" rel="noopener noreferrer" target="_blank"&gt;Money Website&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;a href="https://www.youtube.com/playlist?list=PLrvCe5FhuuSn2KNn_oKLjDDH_Ls5rSQbz" rel="noopener noreferrer" target="_blank"&gt;YouTube Podcast Playlist&lt;/a&gt;&lt;/p&gt;&lt;p&gt;Email Us: &lt;a href="mailto:podcast@moneymag.com.au" rel="noopener noreferrer" target="_blank"&gt;podcast@moneymag.com.au&lt;/a&gt;&lt;/p&gt;&lt;p&gt;Get stories like this in our newsletter: &lt;a href="https://my.captivate.fm/bit.ly/3GDirbR" rel="noopener noreferrer" target="_blank"&gt;bit.ly/3GDirbR&lt;/a&gt;&lt;/p&gt;</description>

Friends With Money

Money Magazine

What is a reverse mortgage?

DEC 2, 202516 MIN
Friends With Money

What is a reverse mortgage?

DEC 2, 202516 MIN

Description

Rising property values have left many retirees rich on paper but short on cash, so are there options for those looking to utilise their home equity?

This week on the Friends With Money podcast, Money's Tom Watson is joined by Chris Grice, chief executive of National Seniors Australia, to discuss reverse mortgages, equity releases schemes and the government-run Home Equity Releases Scheme.

 

00:00 Introduction

00:28 The 'asset rich, cash poor' dilemma

01:24 Exploring reverse mortgages

07:03 Addressing concerns about reverse mortgages

9:24 Equity release schemes

10:11 Introduction to the Home Equity Access Scheme

13:54 Comparing equity release options

16:02 Conclusion

  

#friendswithmoney #tomwatson #chrisgrice #reversemortgages #homeequity

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