
Dave Ramsey is one of the most well-known financial advisors, famous for his strict anti-debt philosophy. While much of his advice helps people get out of debt and build financial stability, his views on reverse mortgages are overly simplistic and, in many ways, misleading. He frequently tells his audience that reverse mortgages are bad financial products, claiming they are a scam, put seniors at risk of losing their homes, and are unnecessary for retirement planning.
However, modern Home Equity Conversion Mortgages (HECMs)—the most common type of reverse mortgage—are federally insured and can be a valuable financial tool when used responsibly. Because of this, it’s important to take a closer look at where Dave Ramsey gets it wrong.
Read More How Dave Ramsey Is Incorrect About Reverse Mortgages