November 17th, 2015
What exactly is it? Money that you take out from the equity of your home.
You have worked hard, paid off your mortgage or a good portion of it and now you have some equity.
A reverse mortgage is like a line of credit but the good news is you don't have to pay it back. You can pull out a portion of the equity enjoy life a little, you can stay in your home until forever without paying it off. At a later time if you need to take more money out and the value of your home has increased you can do another reverse mortgage. What about your heirs, once you pass away can they buy the house back or refiance it to pay off the money taken out? Yes, they can and retain the home back. Please contact me for a free analysis of the equity and money that is available to you, answer all your questions and see if this reverse mortgage is beneficial to you.
Virginia Nickel 602.277.4545 firstname.lastname@example.org
With a reverse mortgage, you borrow against your equity. The loan balance grows over time. You don’t have to pay the loan while you live in the home and you maintain ownership of your home.
When you move out, sell your home, or pass away, your loan must be paid off. Usually the loan is paid off when the home is sold.
Enjoy a better life, determine your eligibility for a reverse mortgage today. Use our free calculator now!