What is a reverse mortgage?
A reverse mortgage is a loan that allows homeowners over the age of 62 to access a portion of their home equity. Seniors may choose to receive monthly payments, a growing line-of-credit, lump-sum, or a combination of all three at closing.
What Can A Reverse Mortgage Be Used For?
What are you responsible for in a Reverse MOrtgage?
A reverse mortgage is still a loan, and you are still responsible for your responsibilities connected to the loan and the property.
Responsibility includes:
- Pay for property taxes and homeowners insurance.
- Keep the house in good working order, including repairs and upkeep.
- Live in your primary residence for at least half the year
ENJOY RETIREMENT YOUR WAY
Discover Reverse Mortgage
Jeannette offers a 30-minute, NO OBLIGATION consultation to see if a reverse mortgage could be a “good fit” for you. Family members are welcome to join in!
Schedule a Call with Jeannette