What is a Reverse Mortgage?
 A reverse
mortgage allows seniors to live in their home as long as they
choose to, without ever making a mortgage payment. Reverse mortgages
can give seniors tax-free monthly income payments, a credit line
or a one-time cash payment from the equity of their home. To qualify
for a reverse mortgage you must be at least 62 years old and own
your own property. There are no income or credit score requirements
to qualify for a reverse mortgage, the title of your home remains
in your name and the home will be left to whomever you choose to
be your heir.
Reverse Mortgage Benefits
- Cash received is Non-Taxable
- Strengthen your personal and financial position by increasing cash
flow
- No more mortgage payments
- Credit-lines for emergencies and unexpected expenses
- Home repairs and improvements
- Obtain better life and health insurance plans, long-term care
- Vacations and Leisure are now a reality
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| • Could you use extra cash to consolidate debts or to supplement your monthly income? |
| • Do you have equity in your home? |
| • Would you like to not have to make mortgage payments in the future? |
| • Do you want to remain living in your home for as long as possible? |
| • If you can answer 'yes'
to one or more of the above, then you might be able to benefit
from a reverse mortgage. |
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