What is a Reverse Mortgage?

• A reverse mortgage is a financial product designed specifically for homeowners aged 62
and older. It allows you to convert a portion of your home’s equity into cash, without having to sell the house. Best of all, once the reverse mortgage is in place, there are No more monthlymortgage payments for the rest of the lives of the borrowers.
• Homeowners have access to extra money without having to sell their home, having to give up title or possession, or having to make monthly mortgage payments, provided that a borrower (or eligible non-borrowing spouse) occupies the property as their primary residence. However, the borrower still has to pay for property taxes, homeowners insurance, and property maintenance.
• With this special type of loan, the lender makes payments to the borrower, either in a lump sum, or as monthly payments, for the rest of the lives of the borrowers.
• Today, more senior homeowners are benefitting from the increased liquidity and financial stability that a reverse mortgage provides.
• A reverse mortgage is a tool that allows homeowners aged 62 and older to tap the home equity they have built up as cash
• Are you ready to start living the life that you deserve?

If you answered YES to any of these Question,

a reverse mortgage might be right for you.

If you answered YES to any of these questions, a reverse mortgage might be right for you. If you are a younger senior (especially if you are in your 60s) considering a reverse mortgage now, remember to look at all your options first as you may run out of money when you are older and need it more.

The Reverse Mortgage Process