Where would a Reverse Mortgage take You?
If you're 62 or older, you may qualify to take a portion of your hard-earned equity and turn it into usable cash, with no monthly mortgage payment.
Usable how? Well, that's up to you.
Need help with medical payments?
Want to purchase a second residence?
Always longed to travel the country in an RV?
For many Senior Americans, it's possible with
a Reverse Mortgage.
You must qualify for a reverse mortgage, and may only use your primary residence. You must still pay property taxes, property insurance, and maintain the condition of the home. The loan must be paid in full if the home is sold or before it can be inherited. “ If the loan cannot be paid, the home may be sold in lieu to pay the balance, forfeiting equity or inheritance options. The home can be foreclosed upon if you
default on the terms of the reverse mortgage.