Reverse Mortgage
Reverse mortgages are a great tool for seniors to access home equity funds quickly with no repayments as long as they live in their home. The funds can be taken all at once, in monthly income payments, or as a line of credit.
Since it is a loan the money is not taxable and will not affect your social security or Medicare.
Not all reverse mortgages are created equally some have higher processing ,origination fees, and upfront expenses for appraisal inspections.
Reverse mortgage counseling for all borrowers and spouses is provided by an approved independent agency of the borrowers’ choice to insure complete understanding and education on the reverse mortgage program.
The first step to getting a reverse mortgage is to get a quote and take the reverse mortgage counseling which can be done in person or over the phone.
