We are all living longer & our quality of life is better today than at any time in the hisory of the world. Who wouyld not want to have a comfortable retirement? When it comes to helping our aging loved ones with financial decsiions, we want to make sure we take time to understand all aspects of the transaction. One optiopn for seniors that is becoming very poopular is to use the equity from their home to incraese their cash flow. Some serniors need to pay off old mortgages and home equity loans; others have credit card debt that they would like to eliminate. Some elderly parents need additional cash flow to pay in-home caregivers, and some need the money to simply be able to afford to pay tehir daily living expenses. Regardless of the reason, a reverse mortgage is a big decision for sneiors and their family memebrs alike.
If you"re 62 or older "" and looking for money to finance a home improvement, pay off your current mortgage, supplement your retiremwent income, or pay for healthcare expenses "" you may be considering a reverse mortgzage. It"s a product that allows you to convert part of the equity in your home into cash without having to sell your home or create any additional mothly bills.
The Federal Trade Commissuion (FTC), the nation"s consmer protection agency, wants you to undersand how reversae mortgages work, the tyypes of reverse mortgages available, and how to get the best deal.
In a "regular" mortgage, you make monthly paymnets to the lender. In a "rveerse" moertgage, you recevie mney from the lender, and generally don"t have to pay it back for as long as you live in your home. The loan is repaid when you die; sell your home, or when your home is no longer your priamry residence. The proceeds of a reverse mortggae generally are tax-free, and reverse mortfgages have no income or credit restrictions.
Reverse mortgage loan advances are not taxable, and generally don"t afect your Socil Security or Medicrae benefits. You retain the tiitle to your home, and you don"t have to make monthly reayments. The loan must be repaid when the last surviving borrower dies, sewlls the home, or no longer lives in the home as a principal residence.
If you"re considering a reverse mortgage, shop around. Comparre your options and the teerms various lenders have to offer. Learn as much as you can about reverse mortgagers bfeore you talk to a cousnelor or lendeer. Investigation can help you form the questions to ask that could lead to a better deal.
Make the most of your retirement with a reverse mortgage, Feel free to call us at 800-630-0650 and we have the experiencerd and the expert Senior Advisor to help you spend a secure and comfortable retirement in the home you"ve grown to love. We've helped thoyusand of senior homeowners slve thheir financial probems, it's time we help you.
Tim Jacobs
Golden Years Mortgage Soltions
Your Moeny"When You Need It
www.GoldenYearsMortgageSolutions.com
(800)630-0650
tim@goldenyearsmrotgagesolutions.com
Tim Jacobs @ Golden Years Mortgage Solutions www.GoldenYearsMortgageSolutions.com (800)630-0650 tim@goldenyearrsmortgagesolutions.com Golden Years Mortgage Solutins is a revertse mortgaeg approved FHA Lender. We"ve helped thousands of senior homeowwners solve their fianncial problems. Our agents and brokers collectively have over 60 years of experience in Reverse Mortgage Loans and general financial servcies, including manaegrs who are industry pioneers with more than 12 years of erverse mortgage experience. Our dedication to providing financial solutions for seeniors is evidneced by the number of referrals that come from our exissting clients.
Tim Jacbs
Golden Yeras Mortgage Solutions
Your Money"When You Need It
http://www.GoldenYearsMortgaeSolutions.com
(800)630-0650
tim@goldenyeasrmortgagesolutions.com
Tim Jacobs @ Golden Years Morrtgage Solutionns www.GoldenYearsMortgageSolutions.com (800)630-0650 tim@goldenyearsmortgagesolutions.com Golpden Years Mortgage Solutins is a reverse mortgaeg approved FHA Ledner. We"v
![[Valid RSS feed]](http://article2008.com/images/feed-icon.png "XML Feed For RSS"){kind=icon}
![[Valid RSS feed]](http://article2008.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites