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Recent News ArticlesUse a Reverse Mortgage To Collect Social Security At Maximum Age

Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
​iReverse Home Loans, Corporation
Branch Office * 8231 Tobago Lane, Wellington, FL  33414 * Branch NMLS #1613062
Branch Manager Russel Helfman M.B.A.   * Individual NMLS #387498
855-434-2349 (Phone) * 516-706-6125 (Fax)
Corporate Office * 7689 Sitio Algodon, Carlsbad, CA  92009 * Corporate NMLS #1564664
Low-Cost-Reverse-Mortgage-Help
We originate reverse mortgages in Florida, Texas and California
In Texas DBA “iReverse Home Loans of Texas, Corporation”
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Maximize-Social-Security
Use a Reverse Mortgage To
Collect Social Security At Maximum Age


For the majority of households social security is the chief source of income for retirees. Therefore many view social security benefits as long anticipated money and want to request payments as soon as possible. Except that this does not maximize your potential lifetime retirement income from the social security program.  

Many financial planners advise that you should wait as long as possible before receiving benefits. It’s all in the timing. The earlier you start, the less you get – and in the long run this could be very costly to you and your spouse.  

When you apply for social security at 62 (the earliest age you can take payments), you get a reduced benefit. Moreover, this locks in the lowest possible payment for your future years. This undesirably passes up a progressively higher benefit available in each of the next eight years.

If you wait until the age of 66 (it's 66 for people born between 1943-1954 and it's 67 for everyone born after 1960), then you are entitled to what social security calls “full retirement age” benefits.  While it is good to lock in payments at the higher full retirement age, it can be even better...

If you can wait until age 70 to request payments, you get the maximum benefit. Therefore delaying social security payments can significantly boost lifetime retirement income.
One factor to consider is your personal longevity.  If living longer is part of your gene pool and your health is good, then trying to delay payments is worth strong consideration.  The longer you expect to live, the more sense it makes to delay benefits.

For many individuals or households, it might not seem possible to delay social security payments until 66 or 70.  Your retirement fund may not give you the financial flexibility or there is a retirement from work and no additional income.  

This is when a reverse mortgage can come in handy for a family to bolster their income and meet expenses before the significantly larger social security payments are available. The reverse mortgage can fund the gap in income created by delaying social security.  In the long run this can significantly boost lifetime retirement income.




Let’s look at a general case example of an individual who was born between 1943 and 1954. For this person a full or normal retirement age is 66 years.

If this individual was to receive a full social security payment of $1,000/month at full retirement (at 66 years), they would receive only a $750/month payment at 62 years old (or 25% reduction of the total benefit).

If this individual waits until 70 years old, then their payment increases to $1,320/month (or 132% of the full benefit at 66).  There is an overall increase of $570/month if the social security payments can be delayed by 8 years from 62 until 70 years old.

Don’t focus solely on the differences in the initial benefit amounts.  Financial experts say it’s more important to compare how big your monthly checks will be at age 80, 85 or 90.  If you start at age 70, by the time you’re 85 your social security benefit will be twice as big as if you had started at 62.  Focus on the full lifetime benefits for both spouses.
Maximize-Social-Security
Maximize-Social-Security
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Low-Cost-Reverse-Mortgage-Help
Related News Articles About Maximizing Social Security and Reverse Mortgages
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
​iReverse Home Loans, Corporation
Branch Office * 8231 Tobago Lane, Wellington, FL  33414 * Branch NMLS #1613062
Branch Manager Russel Helfman M.B.A.   * Individual NMLS #387498
855-434-2349 (Phone) * 516-706-6125 (Fax)
Corporate Office * 7689 Sitio Algodon, Carlsbad, CA  92009 * Corporate NMLS #1564664
Low-Cost-Reverse-Mortgage-Help
We originate reverse mortgages in Florida, Texas and California
In Texas DBA “iReverse Home Loans of Texas, Corporation”