Reverse Mortgages

You have worked hard for a comfortable retirement. If the cost of living is getting in the way, a federally insured reverse mortgage may be an effective solution. A reverse mortgage can be another income planning tool in your retirement portfolio. Accessing the equity in your home can also extend the life of other savings accounts.

Reverse mortgages can help ease some financial stress for homeowners aged 62 and older who want to eliminate the potential for burdensome monthly mortgage payments or access the equity that they have built up over time. It can allow you to keep more money in your pocket each month, while helping you avoid tapping into other savings and assets that could be an additional source of income.

With a reverse mortgage, you continue to live comfortably in your home and retain title to it. A reverse mortgage loan allows you to access a portion of your equity as tax-free cash. Many people choose to use the funds to pay off an existing mortgage on their home, access cash for lifestyle changes, subsidize rising health care costs, manage other expenses, or to fund home improvement projects. No monthly mortgage payments are required for as long as you live in the home and continue to meet your loan obligations: keeping current with property taxes, homeowners' insurance, regular maintenance of the home, and any homeowners association fees for your area.

A reverse mortgage could be a component of your retirement plan. The reverse mortgage team at Decision 1 Financial is here to answer your questions and to personally help you through the process every step of the way.

Decision 1 Financial NMLS ID: 1572808
*It is never recommended to borrow money from a reverse mortgage loan for the purpose of investing.