Considering a Reverse Mortgage?

Why you should consider a reverse mortgage?

Homeowners that are over 62 of age whose lifestyle might improve or to maintain their lifestyle by using the reverse mortgage as part of their retirement planning. It’s another financial tool available to senior homeowners over 62.

Are you in this situation?

Are you in this situation?

Retired or closing in on retirement and still have a mortgage with your income dropping on retirement?

Maybe you’ve retired or considering retiring before 65 and you are looking for a way to defer your social security payment until age 65 or older so that you can draw more from social security?

Are you living on social security or have a small pension and need to supplement incomes?

Are you living in retirement on a nest egg a lifetime of savings, or that’s your plan, but are worrying that the money might run out and you don’t like the uncertainty and just want to have a backup plan now before it’s too late?

Are you seeking protection against a sudden drop in income. This could happen from the termination of a pension following the death of a spouse. The pension fund is underfunded, your company just sold the company and there’s a new pension provider/administrator. They just offered you a buy out?

Did you want to buy a house, but don’t want a monthly payment: they may want to become homeowners for the first time, or they may already own a home and want to move, perhaps to a better climate or to be closer to family. Whatever the reason, they do not want a monthly payment and do want to minimize the depletion of their financial assets.

Looking for a solution to manage changing incomes? Seniors with changing incomes can draw on a reverse mortgage credit line when income drops, then repay the line when income recovers.

Do you have some unexpected expenses, medical, something broken, need to pay for something else, and have no financial reserves?

Planning to sell your homes within 3-7 years or so, but need to supplement income in the meantime?

These are just some of the reasons why a senior over 62 might want to consider a reverse mortgage, give us a call and we can discuss your circumstances and use our over 40 years’ experience in providing you with the best options for you.