|
10-10-2009 at 12:24 pm by: Jennifer Benjamin
Reverse Mortgages
Below are 10 reasons why a reverse mortgage might be right for you. 1. Proceeds can be accessed in a variety of ways such as a monthly allowance, lump sum, or a fixed amount for a certain period of time.
2. Reclaim independence and dignity by having access to funds that help pay for healthcare services that help to maintain quality of life.
3. Out of pocket costs to obtain a reverse mortgage range from $0 to $575.
4. Loan becomes due only when it is no longer the primary residence, upon the death of the survivor or when the home is sold.
5. Peace of mind that comes with your home paying you back.
6. No longer depend on adult children for financial support.
7. Qualification for a reverse mortgage is easy: must own the home, it must be the primary residence, and you must be 62 years old or older.
8. Money from a reverse mortgage can grow interest.
9. Pay off your debt.
10. Achieve your goals: continue to live at home, help your grandchildren pay for college, maintain a balanced, healthy lifestyle.
|
 |
  Fill in the form below to receive money-saving tips on elder care by email. |
|
|
