What is a Reverse Mortgage?

There’s a lot of confusion about reverse mortgages. But, retirement is not the time for confusion or worry about finances. Many seniors have asked “what is a reverse mortgage and should I get one?

What You Need to Know About a Reverse Mortgage

A reverse mortgage is a home equity loan for seniors aged 62 and older which is insured by the Federal Housing Administration (FHA) and allows you to remain in your home as long as you wish.

Reverse mortgages are unique loans that allow senior homeowners like you to access a portion of the available equity in your primary residence without having to sell your house, give up the title or take on a new monthly mortgage payment. It can be a great option to help achieve your financial goals and security.

Reverse mortgages are all about achieving financial independence and peace of mind while maintaining or improving your quality of life. Here are a few reverse mortgage features that you may not have heard about before that can make a great impact your finances and on your life:

  • No monthly mortgage payments
  • Fixed or adjustable interest rate loan options
  • Choice of how you access loan proceeds
  • Generally tax free proceeds
  • Can be used to purchase new home
  • No debt for heirs or assets
  • FHA insured

To help clear up any confusion you may still have about reverse mortgages you can visit the FAQs page for more information. But the best way to get answers specific to your needs is to get in touch with Sandy Clements – today!

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Please call Sandy Clements, 303-369-0408 or 866-369-0408 for
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