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A Guide To Aging In Place
Learn How To Use A Reverse Mortgage To Buy A House
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Find Out What The 2008 COLA Increase Means To You
Just The FAQs: Answers to Common Questions About Reverse Mortgages
See the Top 10 Reasons Seniors Get Reverse Mortgages
See the Top 10 Myths About Reverse Mortgages
Learn About Using A Reverse Mortgage As An Estate Planning Tool
Learn About Reverse Mortgage Safeguards
Learn About Pros and Cons of Reverse Mortgages
Using Reverse Mortgages For Health Care
Reverse Mortgage Information For the Family
Our lenders are available to help anyone involved in helping your parents or grandparents make an informed decision on a reverse mortgage. That means sitting down with you and explaining how your family can benefit from a reverse mortgage and what happens to the property once the sell the house or pass away.
As a family member or and advisor, here are some facts that you should understand about the reverse mortgage options available to you:
- Never have to move out of their house: With a reverse mortgage, your parents can eliminate their mortgage payment and stay in their house as long as they want as long as they pay their property taxes and insurance.
- Financial Security: Tax-free money from a reverse mortgage can help alleviate financial stress and make their retirement years ones to enjoy and avoid depending on their children for financial matters.
- Government Protection: No matter what the real estate market looks like your entire family is financially protected by the government. With a reverse mortgage, if your balance exceeds the value of your house neither you or the heirs are not responsible for the overage.
- Retain Ownership of the home: Reverse Mortgages are insured by the government. This means that the choice to retain the home or sell the property remains with the family.
- Safe: According to the National Reverse Mortgage Lenders Association, over 348,000 senior homeowners have taken advantage of the benefits of a reverse mortgage.
- Option to repay: With a reverse mortgage you can sell your house at any time with no penalty.
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