Reverse Mortgage Information
What is a Reverse Mortgage?
A reverse mortgage is a government insured loan available to Americans who are at least 62 years old and who have a fair amount of equity in their homes. This unique loan you to remain in your homes without ever having to make another monthly mortgage payment again. It works by liquidating the equity that you currently have stored within your home. After paying off your existing mortgage (if it exists), you can use the available funds for whatever you want. Many use a reverse mortgage to help pay for their monthly expenses, healthcare costs, or to make a much needed home renovation. Getting accurate reverse mortgage information can help you decide if this is the right financial decision for you or your loved one.
Reverse Mortgage Information Provides Solutions
Are you one of the millions of seniors that could use a little extra money in their pocket each month? According to National Council on Aging (NCOA) more than 13 million seniors could have extra funds if their money was not tied up in their home equity. Requesting free information can show you how a reverse mortgage can help you age with dignity in your home.
Reverse Mortgage Information Helps Ease Retirement Worries
Many seniors dream of retiring comfortably but do not necessarily have the means to pay for monthly expenses and make their mortgage payment. Reverse mortgage information shows that this product can help seniors age with dignity in their homes.
More Seniors Take Advantage of a Reverse Mortgage
In 2010, the Department of Housing and Urban Development enacted a new reverse mortgage information program that made millions more senior homeowners eligible for a reverse mortgage. This program is called the Home Equity Conversion Mortgage (HECM) Saver. The HECM Saver gives more Americans the opportunity to obtain a reverse mortgage by providing access to a limited portion of their home’s equity at a lower cost.