What is a Reverse Mortgage?
A Reverse Mortgage is a federally insured loan that allows homeowners age 62 and older to use a portion of their home value without creating a monthly payment. Best of all, you maintain ownership. The money received from the Reverse Mortgage is tax-free.
By letting your home pay you back, the value you convert to cash opens new opportunities. In addition, you will NEVER be forced to leave the security of your home, or make a payment as long as you live in your home.
Simply Put: A Reverse Mortgage is the only safe way to access a portion of the value in your home without ever having to make a monthly payment.