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Reverse Mortgages allow you to cost-effectively tap your home’s equity and enhance your retirement income.
Reliable Source of Income
Tax Free
No Monthly Mortgage Repayments
Money can be used for any purpose
Monthly
Line of Credit
Lump Sum
Mix and Match
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A reverse mortgage is a loan against your home that you don’t have to repay
as long as you live there. With reverse mortgage, conversely, the lender sends you
money, and your debt grows larger and larger as you keep getting cash advances,
make no repayment, and interest is added to the loan balance ( the amount you owe ).
That’s why reverse mortgage are called rising debt, falling equity loans.
As your debt grows larger, your equity generally gets smaller.
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Reverse mortgage are different from regular home mortgages in two important respects:
With reverse mortgage, you don’t have to make monthly repayments. Thus, your income generally has nothing to do with getting a loan or determining the amount of the loan.
You can’t lose your home by falling to make monthly loan payments - because you don’t have any to make.
A reverse mortgage merits your consideration if it fits your circumstances.
Reverse mortgages may allow you to cost-effectively tap your home’s equity
and enhance your retirement income. If you have bills to pay, want to buy some
new carpeting, need to paint your home, or simply feel like eating out and
traveling more, a good reverse mortgage may be your salvation.
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