Seniors are tapping into their home's equity to shore up their budgets. It's a great option and works like this; Upon reaching age 62, a homeowner can take out a "Reverse Mortgage". It's reverse, because monthly mortgage payments are sent from the bank to the homeowner. The homeowner can also take out a lump sum or a line of credit or a combination of the three.
A client I had didn't want to take her kid's inheritance for her own good. That to her was just selfish. Contrare! Her kids were all better off than she was and wanted her to have a better "quality of life" in her latter years. They didn't want anything from her but her happiness.
Why work all your life, pay the house off, run into some financial difficulties or avoid badly needed home repairs or drive a completely undependable car? Reverse Mortgages MAKE SENSE for a lot of people.
In Florida, Call Randall for more information or to apply - 863-229-1235
1 comment • Randall Schrader • October 20 2008 06:08PM
I have seen and heard a great deal about this here lately, for some people it sounds like a good deal.