There is a full webinar, including Q&A after that, all told, includes several hours of discussion about reverse mortgages (RM).
Those videos can be found on the Webinars page. The webinar title on that page is: "The Pros and Cons of Reverse Mortgages."
The full webinar will explain the concepts and facts related to the various kinds of reverse mortgages, risks and advantages.
Although there are many configurations of a RM, here is one simple approach that will give you a sense of the impact of a RM on your MaxiFi model:
1. Create a special receipt less than the value of the home to represent a lump sum RM receipt in the year you would establish the reverse mortgage.
2. Create a bequest amount using that same dollar amount plus fees and interest to represent the repayment of the RM from your estate.
MaxiFi will use the equity in the home fund the bequest. If there is not enough equity to fund the bequest, MaxiFi will anticipate that need and also create saving in regular assets to help fund that bequest.