Are there dreams for your retirement that would be easier to accomplish if you could increase your income?
With a reverse mortgage, you can borrow against the equity invested in your home.
You will have more money to spend during retirement, and you can stay in your home.
What is a Reverse Mortgage?
A reverse mortgage is a way for seniors with significant home equity to make their investment pay off.
By borrowing against your equity with a reverse mortgage, you can receive the cash you need to spend for any purpose you want.
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You Have the Retirement Dreams, We Have the Solutions
Since there are no restrictions on what you do with reverse mortgage income, you can use it literally any way you wish.
Whatever your dreams, be they large or small, practical or personal, a reverse mortgage is your means to make them happen.
- Pay off your high-interest debts.
- Cover medical bills.
- Repair your home or upgrade it.
- Put a down payment on a vacation home.
- Purchase or repair an automobile.
- Fund education for yourself or a family member.
- Make an emergency fund.
- Take a trip around the world.
- Pay monthly expenses and bills.
Those are just examples! If you can dream it, you can use reverse mortgage income on it.
Benefits of a Reverse Mortgage
- It is your decision how to use your reverse mortgage funds. No restrictions stand in your way.
- You can stay in your home with a reverse mortgage for the rest of your life.
- There may be tax benefits (your tax advisor can help you assess if this is the case in your situation).
- The loan does not come due until a maturity event. Choosing to sell the home is one example of a maturity event. Another example is the death of the last borrower or when the last borrower has left the property to take up residence at a nursing home or mature citizens community.
Qualifying for a Reverse Mortgage
To qualify for a reverse mortgage, you must:
- Be at least 62, or another borrower must be at least 62.
- Meet certain requirements with respect to your credit score, tax history, and income.
- Be current on home maintenance payments.
- Have enough equity in your primary residence to borrow against.
Apply Now for a Reverse Mortgage
We are licensed in Michigan, Alabama, Colorado, Connecticut, Florida, Indiana, Iowa, Kentucky, Louisiana, Massachusetts, Michigan, New Hampshire, North Carolina, Ohio, Pennsylvania, Rhode Island, and Tennessee.
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