What is a Reverse Mortgage?
Officially it is called a Home Equity Conversion Mortgage or "H.E.C.M.". This is a unique loan designed for seniors 62 years of age and older. It allows you to get equity out of your home to provide current income or any other goal you may have, without ever having to make a payment on the loan as long as you live in your home.
If you live in your home until your death, your heirs will have the choice to payoff the loan or sell your home and keep any equity that is left.
More Frequently Asked Questions
NO Financial or Credit Qualification
You keep title of your home
NO changes to your property taxes
NO payments as long as you live in your home.
Loan insured by FHA
You must be age 62 or older
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Why are More Mature Americans Taking Advantage
of Reverse Mortgages?
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Mature Americans are living
longer and outliving their
incomes.
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Prescription costs continue to
increase at a staggering rate.
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Protecting themselves from lost
social security and retirement
income once the first spouse
has passed away.
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Having the ability to afford
At-Home Healthcare and avoid
a Nursing Home situation.
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Needed home improvements
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Maintain Dignity and
Independence.
CONTACT US NOW TO FIND OUT
IF A REVERSE MORTGAGE
IS RIGHT FOR YOU!!!
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A 73 Year Old Man in Chippewa Lake, Michigan
Situation:
Beautiful home on Chippewa Lake, he and his wife were doing okay in retirement until his wife got sick and died. He found himself in a position where he didn't have enough income left to make ends meet without selling their dream home on the lake.
How a Reverse Mortgage Helped:
A reverse mortgage got him the extra money he needed to remain in his home and as long as he lives there he will never have to make a mortgage payment.
More Real Life Examples
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