Are you age 62 or older? Do you need additional tax fee money every month?
Are you worried about running out of money in the future.
Would you like a line of credit where the funds available to you can grow every year, and potentially double in 10 years, and triple in 20 years. In other words, a Reverse Mortgage that initially contains a $200,000 line of credit, which grows annually and can increase to $400,000 in 11 years, and $600,000 in 20 years using existing rates of return. This money can enable you to pay your bills should you run low on money, or if you have large medical or home health care requirements. Sophisticated financial planners see this as a viable alternative for those who cannot afford long term health insurance, or whose coverage might not last for a long enough period of time.
Reverse Mortgages can become an important part of your retirement plan. Reverse Mortgages are not for everyone, but are a sophisticated life planning tool for a growing number of people.
A reverse mortgage is a loan, it does not transfer ownership of a property to a lender.
Reverse mortgages are insured by HUD, and are backed by a large pool of mortgage insurance premiums.