Why a Reverse Mortgage Can Be a Senior's Best Friend
We've all seen the commercials for reverse mortgages and wonder what the benefits are. Check out this outstanding post about the top three benefits of using a reverse mortgage! Jennifer Provencio does an excellent job explaining this! And please make sure and stop by her blog to give her a thumbs up!!
Why would a senior want a reverse mortgage? There are so many reasons why, but let's start with the top three!
1. It will eliminate their current mortgage payment. Many seniors are struggling just to make ends meet. Many of them got ten year home equity lines of credit which are coming due, but now they cannot refinance because they do not have the income qualifications. Getting a reverse mortgage and eliminating their monthly payment will help ease their stress and provide peace in their golden years!
2. In some cases they will receive a line of credit. The line of credit grows at their interest rate plus 1.25%! This is exponential! If they save that line of credit and let it grow and then take it out when they really need it, they will possibly have enough money to live on until they die.
3. They can spend their hard-earned money the way they want to in their retirement. I have some clients who have not seen their children and grandchildren in years because they could not afford to travel. I have other clients who want to take that dream vacation. Others just want to be able to pay for their medications. Whatever their situation, they will possibly get the funds they need from a reverse mortgage.
For more questions, please contact Jennifer Provencio at 559-994-3692 in Fresno or anywhere else in California at 800-779-1851.
For more information on a Reverse Mortgage please feel free to contact me directly. I look forward to hearing from you!
Jennifer Provencio
559-994-3692
800-779-1851
jenpro@me.com
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