Why Get a Reverse Mortgage?
Get a Reverse Mortgage
Reverse mortgages provide amazing opportunities for seniors who are qualified to enjoy the benefits.
As a highly-unique mortgage loan, a reverse mortgage enables seniors to select flexible distribution methods.
Mindful Money shares helpful information about reverse mortgage loans and offers Home Equity Conversion Mortgages in Arizona, California and Colorado.
What is a Reverse Mortgage?
A reverse mortgage enables seniors who are over 62 years old with significant home equity to borrow money from the property tax-free.
Living within the property is a requirement of the loan.
Why Get a Reverse Mortgage?
Reasons to get a reverse mortgage will vary among borrowers.
Your reason will be based upon your unique needs and your financial situation.
You can supplement your income with reverse mortgage distribution strategies.
With tax-free distributions, you may choose a lump-sum amount, select
tax-free payments, a line of credit or a blend of these options.
Unlike a traditional mortgage, a reverse mortgage enables you to obtain cash from your home equity without requiring monthly payments.
Similar to a traditional mortgage, you could lose your home with a reverse mortgage, if you do not pay your annual property taxes.
After getting a reverse mortgage, you could lose your home if you do not make timely payments for homeowners insurance or neglect to satisfactorily maintain the property.
The proceeds from a reverse mortgage could be used toward improving the comfort of your home.
You could use a reverse mortgage to pay off an existing mortgage loan or other debts and enjoy a peaceful retirement without monthly mortgage payments.
Imagine your current monthly income without any monthly debts.
Get more information about reverse mortgages today.
Schedule a call to speak with Samantha Cooley, a licensed mortgage broker with more than 20 years of professional experience.
As a reverse mortgage expert, Samantha can answer any questions that you have about reverse mortgage loans.
Inquire now, about getting a reverse mortgage loan in Arizona, California or Colorado via Mindful Money.