A reverse mortgage in Aventura, FL can be a great retirement tool in the right circumstances. We would like to share our top 3 reasons for a reverse mortgage in Aventura. According to towncharts, the median age is just over 46 years old. While short 16 years from a reverse mortgage perspective, this data clearly shows that the city is home to many who are approaching, or already in retirement. Some calls that we receive are from children of parents who are in the need of an eliminated mortgage payment in addition to capital.
We are often asked if there are any other reasons to do a reverse mortgage by Aventura residents. It is our goal to write about this as it may be able to assist those currently seeking this information.
For additional information on reverse mortgages in Aventura, feel free to visit this page: http://www.shopreversemortgages.com/florida/aventura/
Top 3 Reasons for a Reverse Mortgage
- Aventura residents should do it while rates are historically low. Since the fed is currently considering raising the rate, reverse mortgage loan rates in Aventura will certainly follow suit if they decide to increase rates. Therefore closing on your reverse mortgage loan will certainly reduce the amount by which your loan grows over time.
- Gain access to a lump sum of cash, installment payments, or a line of credit. When rates are historically low, the stock performs very well. With the 0% rate over the last many years, the stock market has been on a pure rally. Consult with your financial advisor as it may be a great time to ride the wave until rates are offically increased.
- Get rid of your mortgage payment! Start the new year strong by decreasing your monthly financial obligations. These funds can be used for other purposes or to just give you more financial comfort. The lump sum, installment payments, or line of credit is just icing on the cake to those on a limited fixed income.
Start 2016 strong by starting the process of a reverse mortgage for yourself or your loved ones. Feel free to browse other posts created by me which show disadvantages, pros/cons, etc. In the right circumstances, this is a fantastic financial product.