About Reverse Mortgages

What is a Reverse Mortgage?

  • A unique program that converts equity into tax-free income
  • No mortgage payments for as long as you live in the home
  • Most reverse mortgages are government insured under the FHA/HUD program
  • You keep title to your property

What can a Reverse Mortgage be used for?

  • Healthcare costs & Stay in the comfort of your own home!
  • Pay of existing mortgages
  • Reduce burden on children
  • Home repair and improvement
  • Property taxes
  • Increase monthly cash flow
  • Travel
  • Gifts

Why a Reverse Mortgage?

  • Continue to live in your own home
  • Low interests rates
  • Receive tax-free income
  • Several ways to choose from to receive money
  • Option to re-pay the loan with no penalty
  • Make no payments for as long as you live in your home
  • Non-recourse loan: You or the beneficiaries of your estate are not personally liable to re-pay the loan

Who should not get a Reverse Mortgage?

  • If you plan on living at your home for less than 2 years.