REVERSE MORTGAGES DO HELP many older Seniors across The United States achieve better financial security
Everyone wants to enjoy their retirement years. Imagine if your parents have the income they need to remain living comfortable in their home, and at the same time makenecessary repairs, afford quality home healthcare or even travel with family or friends. Last year, nearly 100,000 senior homeowners have done that thanks to the FHA HECM, a unique financial product that can give older folks, aged 62 and over, the freedom and peace of mind to completely enjoy their retirement.
Your folks have been putting money into their home for a long time. House values have increased in recent years. The result is that your folks are sitting on a nest egg that could spell the difference between a good retirement and a challenging one.
With a reverse mortgage, senior citizens can receive a portion of their home value in monthly payments or in a line of credit. They are able to use the equity they have built up at the time they need it most. If they have an existing mortgage that is draining their finances, a reverse mortgage may pay off that mortgage. There are no income or credit qualifications.
As thier relative and loved one, you gain the peace of mind knowing your folks are able to take care of themselves and not be living in a financial nightmare. They are using their own money and not increasing thier monthly expenses. They maintain their dignity and independence. Best of all, they retain title and remain keep their own home as long as they live there.
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