Why A Reverse Mortgage May Be The Best Options For Those Who Qualify
Reverse Mortgages can be complicated, and many people don’t know all of their benefits. In this week’s update, Angela Wyckoff explains how reverse mortgages can be the best option for some seniors looking to maximize their financial position in retirement.
Hello, Angela here from Reverse loan solutions – powered by Amerifund. Today we are gonna chat about Reverse Mortgage. For many years it has been viewed as a loan of last resort. I would like to dispel that myth.
Now more than ever, people are concerned about outliving their money or not being able to retire until much later in life. We all know that Social Security is not enough to replace the income you once had, and the cost of gas and food continues to rise.
A reverse mortgage puts your hard-earned equity to work so that you can plan to maintain or even elevate your lifestyle during retirement. Unlocking your home’s equity with a reverse mortgage, can allow you to:
-Stop making required mortgage payments
-Take a lump sum to make home improvements or payoff bills
-Set up monthly payments to supplement your income
-Leverage your equity in down markets instead of pulling funds from your stock portfolio
-Pay for in-home care or unexpected medical costs
-Potentially leave more equity for your heirs
-A combination of any of the above
There are many ways to tailor a Reverse Mortgage that fits your unique needs. You might never need access to the funds, but a reverse mortgage can provide a comfortable emergency fund, there if and when you need it.
There is no guarantee that you will qualify for a reverse mortgage in the future and as interest rates rise you may qualify for access to less of your funds. You don’t have to put off knowing all your options or miss the opportunity for a strong financial plan. Let’s find out if you meet the requirements and how much you qualify for today.
We want you to feel secure about the future. Which is why we are here to help you navigate what a Reverse Mortgage would look like for you. Please call me to set up a personalized approach to your retirement.