If you are a 62 years of age or older, and have equity in the home you currently reside in, then you very well might qualify for a reverse mortgage. A reverse mortgage allows you to access the equity in your property in the form of cash. It is a loan that enables you to use the cash you have tied up in your property to pay for monthly expenses such as debt and healthcare. Instead of making monthly payments, you will instead be receiving monthly payments. The loan is not required to be paid back until the house is either sold or otherwise vacated.
If you think you might be interested in a reverse mortgage, don’t hesitate to contact us so we can get this process started.