Make the most of your retirement with a reverse mortgage in your financial planning tool box.
A reverse mortgage can help you:
- Meet healthcare expenses.
- Remodel or make home repairs.
- Consolidate credit card debt.
- Manage daily expenses.
- Payoff an existing mortgage to eliminate your current payment.
Reverse Mortgage loan qualifications:
- Borrowers must be at least 62 years old.
- Current home must be a primary residence.
- Own your home free and clear or refinance the mortgage balance with a reverse mortgage loan.
Reverse Mortgage loan benefits:
- Enable senior homeowners to convert their home equity into cash to be used for any purpose.
- You always retain title to your home. Once the home is no longer your primary residence you can sell it and the remaining equity goes to you or your heirs.
- Proceeds are tax free.
- This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The homwowner is responsible for property taxes, homeowners insurance, and property maintenance. A home equity conversion mortgage is a home secured loan and must be repaid from either the sale of the house or other assets, at the borrower's choice.
- The Mortgage Firm Inc. 921 Douglas Avenue, Suite 200, Altamonte Springs, Florida 32714. TheMortgageFirm.com