Reverse Mortgages

A reverse mortgage can help you unlock the equity in your home and access it as a source of income. A reverse mortgage allows you to borrow against the value of your home without having to make monthly payments. With no monthly payments, reverse mortgages are an easy way to supplement your income, pay off debt, or fund a dream vacation.

Reverse mortgages are a way of getting cash now, by borrowing against the equity in your home. You can use the money to pay off debt, remodel your house, or just make it easier to stay in your home longer.

If you’ve ever wondered what reverse mortgages are all about, this is the place for you. We’ll answer all of your questions about reverse mortgages.

Reverse mortgages are loans that help seniors age 62 and older tap into their home equity without selling the residence. The loan is repaid when the borrower dies, moves out or sells the property.

A reverse mortgage allows seniors to access cash as needed, without having to pay back any portion of the loan until they die, move or sell their home. A reverse mortgage loan can be used for a variety of purposes.

Reverse mortgages are loans that allow seniors to receive cash from their home’s equity. Unlike traditional mortgages, a reverse mortgage does not require monthly payments. This can be an attractive option for seniors who want to make home improvements or pay off medical bills without having to sell their house.

To be eligible for a reverse mortgage, you must be 62 years old or older and own your home outright or have paid off a mortgage on it. You also need sufficient equity in your home so that the lender can make a loan against it without taking on any risk of loss if you were to stop making payments (i.e., you would need at least 35% equity).

If you’re interested in learning more about how reverse mortgages work and whether they might be right for you, contact us today!

We would be happy to walk you through every step of the process, (719)470-0898

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