Retirees have the opportunity to use a reverse mortgage on their home for many financial challenges facing seniors today. Many well known sites such as Money Magazine, The Huffington Post, CNBC and CNN Financial news have all tooted the many benefits reverse mortgages afford to Seniors.
Let’s discuss a couple of the more prescient ones within the next few posts.
Say for instance there is for a lump sum to pay in anticipated or unanticipated healthcare expenses. It is well known healthcare expenses pose a challenge for many Seniors. As a Senior, you’ve hard your entire life. Upon retirement, though many of your expenses may lower, other expenses arise, such as health care costs. Why fret or worry? Safely tap the equity in your home, which you’ve worked hard to pay all your life, so that you may have that safety net to cushion you when unexpected costs arise.
You will not have to repay the monies taken for the reverse mortgage against your home until the time of your death. You will receive a lump sum payment from the reverse mortgage financing institution and neither you nor your heirs will be required to repay these monies until the time of your death.
Is this not something to allow you to breathe a sigh of relief?
Contact Mario Quintero of Strock and Tanner Loans, your Reverse Mortgage Specialist at 305-598-1600 for additional information along with a complementary consultation. He will explain all the benefits available to you with a reverse mortgage.