Reverse Mortgage – Is it right for you??
Is a reverse mortgage the best fit for your retirement? Your house is your home and you have waited a lifetime to retire -Your home is also a large storage of wealth. Home equity loans are expensive – they have a high rate of interest – you don’t want that.
Housing is often the biggest expense in retirement next to health care. Many people will need extra money in retirement for travel, health care or just living. If you have a lot of equity in your home – -then it is right in front of you.
You can use the extra money in your home for anything you want. You may want to downsize your home and now you can also have a reverse purchase and this way you are only putting 30%- 40% down and never pay your mortgage off. You will get to live there with no additional payments – only insurance and taxes.
You can also have a line of credit – allow it to grow and use it if necessary. This is now seen as a way to free up your money in your home to help increase your cushion.
Call me today and with just a little bit of information – You can be on your way to having it all….. a home to live in with no payments – and money to enjoy your retirement.