You have worked hard for a comfortable retirement. If the cost of living is getting in the way, a federally insured reverse mortgage can serve as an effective financial solution. This can be another powerful income planning tool in your retirement portfolio. Accessing the equity in your home can also extend the life of other retirement savings.
Reverse mortgages have changed the game for homeowners aged 62 and older who want to eliminate burdensome monthly mortgage payments or access the valuable equity that they have built up over time. It can allow you to keep more money in your pocket each month, be more financially prepared for the future and avoid tapping into others savings and assets that could be an additional source of income. For anyone looking for more peace of mind and the financial freedom to live the lifestyle they dreamed of in retirement, a reverse mortgage could be your answer.
With a reverse mortgage you continue to live comfortably in your home and retain title to it. A reverse mortgage loan allows you to safely 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 enhancements, 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 key component to your retirement plan. Your local family owned and operated 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.