Plenty of people have something to say about reverse mortgages, but not many people have the facts. If you are retired, or nearing retirement age, it might be time to give a reverse mortgage some consideration. Recent guideline changes have benefited seniors, and the old myths about reverse mortgages just aren't true. You get to access equity AND you still own your home. Your family has ZERO liability for your reverse mortgage. And you receive loan proceeds TAX FREE.
Reverse mortgages have helped our clients in many ways. Living on a fixed income during retirement years can cause undue stress and anxiety. Having access to tax-free funds for vacations, unexpected bills and eldercare expenses can help to ease the mind and make retirement years golden. Eliminating monthly mortgage payments can allow seniors to live independently in their own homes.
If you think a reverse mortgage might be right for you, or if you just want to learn the facts, we suggest contacting Mary Preece with Primary Residential Mortgage. Mary understands your needs and is a true professional. Contact Mary at (801) 465-0108.