Reverse Mortgage Loans
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Financial freedom. A comfortable lifestyle. Peace of mind. These are the things everyone looks forward to in retirement. And these are a few of the major benefits a reverse mortgage loan can offer you.
Over the past 25 years, reverse mortgage loans have received a great deal of media attention and become wildly popular among seniors. And for good reasons. With a reverse mortgage loan, you get:
- A New Stream of money paid to you: This loan can be used any way you like — from paying off a mortgage loan to covering all kinds of living and medical expenses.
- Zero Loan Payments: No payments are required on the loan balance for as long as you are alive and living in the home. (You are still responsible for payment of property insurance and property taxes.)
- Liability: At the time of sale, if the equity is greater than the loan balance, you get to keep the excess. But if the value of property is less than the loan balance, you (or your heirs) are not liable.
How Does a Reverse Mortgage Loan Work?
A reverse mortgage loan uses home equity as collateral against a loan. Once a reverse mortgage loan has been approved, you will receive an amount of money from your lender.
Reverse Mortgage Loan Pros and Cons
A reverse mortgage loan can be an excellent financial planning tool. However, whether or not this is the best option for you depends on your specific circumstances.
Choosing a Reverse Mortgage Lender
If you have decided that a reverse mortgage loan is the best option for your living needs and estate planning situation, you are on the path to creating a solid financial plan.
Expert Advice. Exceptional Service.
A reverse mortgage loan can be an invaluable asset in financial planning during retirement, providing cash flow and peace of mind. However, it is not the best option for everyone — or every situation.
Jeff Beattie’s specialization in reverse mortgage loans means that you can count on him for expert guidance. With his highly personalized approach and efficient process, he can help you determine quickly whether a reverse mortgage loan is the right choice for you — and which type would best fit your unique circumstances.
Looking for expert guidance on reverse mortgage loans? Call Alliance Mortgage Group today: 720-598-0506.