Effective January 1st Seniors can use a reverse mortgage to purchase a home.  There is no longer a need to liquidate falling retirement accounts and seniors can avoid mortgage payments on the balance.  Reverse mortgages are a growing segment of business for mortgage companies and a way to help suppliment retirement.  Social Security is typically not enough to support a mortgage payment.

Before the mortgage implosion no doc loans and no ratio loans helped seniors with large retirement account get a traditional mortgage with good great and assets.  Today those assets have declined in value and there are no such loan products.�