A Reverse Mortgage is a Federally Insured Home Loan created over 20 years agothat lets a Senior Homeowner convert a portion of their equity in his or her home into cash. A senior citizen who is 62 years of age or older is eligible for a certain PERCENTAGE of money out of the value of their home and what ever monies they take, they DO NOT have to make any monthly payments at all, that’s right, NO MONTHLY PAYMENTS AT ALL!! The Loan, being the principle plus interest, is NOT DUE until the senior either passes away, moves out or sells their home. It’s that SIMPLE !!!!
So…..imagine having the income one needs to remain living comfortably in their home utilizing a well balanced retirement plan and at the same time make much needed repairs or renovations to their precious home, or pay off an existing mortgage or just have the peace of mind of being able to pay their property taxes each year. Reverse Mortgages have helped well over 200,000 Senior Americans across the country achieve greater financial security and I hope this website, “Helping Seniors Understand Reverse Mortgages” helps you understand how a Reverse Mortgage can possibly help improve a SENIORS quality of life.
If you are interested in learning more about Reverse Mortgages...... have a certain question that needs an answer or you want to find out how much money you are eligible for...... contact your own Personalized Reverse Mortgage Specialist, Dorsey G. Tague III, to start your Reverse Mortgage Education.