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Reverse Mortgage Specialists |
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Advantages for Seniors |
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Do you want to age gracefully? If you could use additional income to do this you owe it to yourself and your family to learn more about the Home Equity Conversion Mortgage (often called a Reverse Mortgage) and how it can help you enjoy your Golden Years. Below is a list of some of the benefits you can receive with a reverse mortgage: ü Receive additional income ü Eliminate your current mortgage payments ü No credit requirements ü No income requirements ü No out of pocket expense to you ü You make no monthly payments ü The title to your home remains in your name ü Your Social Security and Medicare benefits are not affected ü Reverse mortgage funds can be used for any purpose: § Home repair/updates § Purchase of car, trailer, etc § Medical bills § Prescription drug expense § Travel § Daily needs. ü A reverse mortgage is not taxable. Home equity is not considered taxable income. ü You are not locked in; you can move, sell or repay the mortgage balance at any time.
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