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Reverse Mortgages
No payments and no repayment
Reverse mortgages have become very popular and for good reason. A reverse mortgage is a safe plan that can give older citizens greater financial security. If you're 62 or older - and looking for money to finance a home improvement project, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses - a reverse mortgage may be for you. It's a product that allows you to convert part of the equity in your home into cash without having to sell your home or pay additional monthly bills. In a reverse mortgage, you receive money from the lender, and don't have to pay it back for as long as you live in your home. You retain the title to your home and the loan is repaid when the last surviving borrower dies, sells the home, or no longer lives in the home as a primary residence. The proceeds of a reverse mortgage are tax-free and don't affect Social security or Medicare benefits. Given all these advantages a reverse mortgage is a great way to pay for needed home improvements without using savings or taking on additional monthly debts. Call us and let us help you determine whether a reverse mortgage is right for you.
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