Reverse Mortgages:

Cash Solutions for Senior Homeowners

A reverse mortgage can be an ideal way for seniors to stay in their homes and enhance their income.

What is a Reverse Mortgage?

-          It’s loan against equity in a home

-          A reverse mortgage can provide cash advances

-          A loan that requires no repayment until you are no longer living in your home

-          All loans are insured by the Federal Housing Administration or FNMA.

 How could you benefit from a Reverse Mortgage?

-          No monthly payments are required

-          You can receive a regular check each month

-          You can remain in your home for the rest of your life

-          The loan is not payable until you no longer live in your home.

 What are the uses of a Reverse Mortgage?

-          To improve the quality of your life

-          To help you get out from under monthly mortgage or other payments

-          To prevent foreclosure or bankruptcy

-          To pay for in-home health care or for any reason at all.

 Is the Reverse Mortgage process complicated?

-          Get a complete explanation in the comfort of your home

-          Consult with family members and take as long as you like to decide

-          Get free credit counseling as part of the process.

 How do I receive the money?

-          Monthly for the rest of your life

-          Monthly for a specific period of time that you determine

-          Line of credit to use when you need extra money

-          As a lump sum

-          Any combination of the above.

When is a Reverse Mortgage a good idea?

When is a Reverse Mortgage a bad idea?