Monthly archive for June 2017

Concerned About Health Issues? A Reverse Mortgage May Be The Answer.

Concerned About Health Issues?  A Reverse Mortgage May Be The Answer.


The cost for medical treatment continues to rise, especially during retirement.
A 65-year-old couple retiring in 2017 can expect to need approximately $260,000 to cover health care costs in their nonworking years, according to Fidelity, a financial services company.

If you currently live in your own home and are at least 62 years old, a Reverse Mortgage provides an option to cover ongoing expenses, including medical fees.

A Reverse Mortgage allows you to convert some of the equity of your home into cash. Best of all, you do not need to repay the loan during your lifetime as long as you comply with all of the terms.

Aging In Place Requires Planning

Aging In Place Requires Planning

Paying for medical expenses and maintaining a home can be difficult, however the goal of Americans is to do both. Eighty-three percent of retirees and those close to retirement want to stay in their home as they age, according to the a recent survey released this year by The American College of Financial Services.

“Many people think that they’ll only be able to stay in their home temporarily,” But a Reverse Mortgage can allow them to modify their homes or get the care they need to stay in their homes indefinitely.

You might use the cash from the Reverse Mortgage loan to add safety features such as grab bars, a ramp for the outside entrance, or a stair lift chair.

Location

Headquarters
614 Old Edmondson Ave., Suite 200
Catonsville, MD 21228-3360
Toll Free:
1-800-420-5515

Maryland Office:
410-788-7070

Eastern Shore Office:
410-600-0600

District of Columbia:
202-719-0625

Virginia:
703-879-2316

Licenses

NMLS # 179014
www.nmlsconsumeraccess.org

Maryland - Lender # 06-20057

District of Columbia - Mortgage Broker # MLB179014

Virginia - Licensed by the VA State Corp. Commission, Mortgage Broker # MC5642

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