A reverse mortgage is an ideal way to make your retirement years financially easier and more enjoyable. Although the term reverse mortgage can be confusing, it can be seen as a homeowner selling part or their entire home over time.
The way it works is quite simple. Once your reverse mortgage is approved, the lender will pay you a certain amount of money each month. This is money you can use for any purpose you like. Your life will become more enjoyable as you will have more income to spend in your retirement years. People all over the country are realizing a better retirement by using the equity in their home as a part of their retirement income.
Although a reverse mortgage may not be ideal for everybody, if you plan on staying in your home for several years and would like some extra money every month, this may be perfect for your personal finances in retirement. Without a reverse mortgage, you will need to sell your home to tap into the equity. However, living in the comfort of your own home is an important part of retirement. We can help you get a reverse mortgage to make this possible.
There are certain basic qualifications you must have in order to get a reverse mortgage. You must be 62 years of age or older, you must be living in the house and have the house paid for or a substantial amount of equity built up in your house. With these three criteria met, we can help you get a reverse mortgage.
You can contact us today, and let us know your particular situation. How much we can provide to you with a reverse mortgage will depend upon the equity in your home and any balance you may have on an existing mortgage.
To find out more about Reverse Mortgage please call us at (800) 220-LOAN.
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