Receive Money With Reverse Mortgage!
If you are retired as well as tired of monthly mortgage payments, we have a powerful tool for you. You can take this burden off your shoulders with the help of reverse mortgages. By getting a reverse mortgage, you will start receiving money, but not paying.
When you have a regular mortgage, you should pay monthly to the lender to own a home. Reverse mortgages offer you a loan in which the lender pays you. But first and foremost, you need to own home equity to give it as collateral. Reverse mortgages will convert the home equity into cash for you. The money you get is generally tax-free. You can use it to pay off a loan, supplement income, for healthcare, and more. The great thing is that you still remain the owner of your home. You will not pay the money back until you live there.
Types Of Reverse Mortgages
If you are 62 or more, reverse mortgages could be a good retirement tool for you. But you need to be careful with your choice, as it might not be your perfect fit. Take your time to review the different types of reverse mortgages:
Single-purpose reverse mortgages - These types are offered by state and local government agencies. With this mortgage you will have the lender to specify one single purpose for your loan use. Thus, the lender can give you money to pay only for repairs or property taxes. This option is referred to as the cheapest among other types. So if you are a homeowner with low income this might be the right choice for you. Contact us to see if it’s available in your area.
Proprietary reverse mortgages - Backed by private companies, this mortgage can offer a bigger loan. So if you own a home with higher value and have a small mortgage, go ahead! Apply for this mortgages to receive more funds.
Home Equity Conversion mortgages - Having the federal government insurance, these loans are free to use for any purpose. Make use of this mortgage to plan your next trip, make home improvements, or for your daily expenses.
If you have already decided on one of the options, we are here knocking at your door. Get our support by contacting us now!