What is a reverse mortgage?

A reverse mortgage is a loan that enables homeowners who are 62 years of age or older to access the equity in their homes as tax free income without having to sell the home, give up title or take on a new monthly mortgage payment. 

Reverse Mortgages are taken out for several reasons. People want to convert their home equity into cash value and by doing so, they have the opportunity to have:

 - Absolutely no mortgage payment
 - Ability to pay off other debt
 - Cover medical expenses
 - Starting or completing home repairs and improvements
 - Opportunity to support your family financially
 - Overall Improvement in Quality of Life

There are a few requirements in order to qualify for a reverse mortgage:

 - Must be 62 years or older
 - Have to have equity in your home

For more information on the benefits and requirements of a reverse mortgage visit: Las Vegas Reverse Mortgage.