If you’re 62 or older – and looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses – you may be considering a reverse mortgage. It’s a product that allows you to convert part of the equity in your home into cash without having to sell your home or pay additional monthly bills. You continue to pay all property related fees, taxes and insurance, maintain the home in good condition. Home must be your primary residence.
Consider the Benefits of A Home Equity Conversion Mortgage (HECM)
- Eliminate monthly mortgage payments* - Build a "safety net" for unplanned expenses - Allow time for investment recovery - Provide a tax-free income supplement**
*You must still live the house as your primary residence, continue to pay required property tax, homeowner insurance and maintain the home according to Federal Housing Administration requirements. **Please consult your tax professional for details.
A Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage loan, has helped homeowners of 62 years of age or older access a portion of their home's equity and can be used for refinancing and purchases.
Many homeowners across the nation have chosen this option to help meet financial and retirement goals, now it's your chance...