A reverse mortgage is a special type of loan used by homeowners 62 and older to convert the equity in their homes into cash. The money from a reverse mortgage can provide you with the financial security you need to fully enjoy your retirement years. Instead of making monthly payments to a lender, as with a regular mortgage, the bank makes payments directly to you!

While a reverse mortgage loan is outstanding, you continue to own the home and hold title to it. You will NEVER give up your ownership in your home!

The money from a reverse mortgage can be used for ANYTHING: pay off an existing mortgage, supplement daily living expenses; home repairs and modifications; medical bills and prescription drugs; pay-off of other debts; continuing education; travel; long-term health care; prevention of foreclosure; and any other needs.

Who Qualifies:
To qualify for a reverse mortgage you must be at least 62 and own your own home. There are no income, asset or credit requirements to qualify. You may be eligible for a reverse mortgage even if you still owe money on a first or second mortgage. In fact, many seniors get a reverse mortgage to pay off an existing mortgage. 

You can choose how to receive the money from a reverse mortgage. The options are: 

• All at once (lump sum)
• Fixed monthly payments (for a certain period or for life)
• a line of credit
• or any combination of these options

Please contact us today to learn more about how you can proceed with a Reverse Mortgage!