Enjoy Your Retirement - Easy Line of Credit for Senior Citizens Eliminate Your Mortgage Payment Live In Your Home For The Rest Of Your Life. Reverse Mortgage is a home loan line of credit that may be taken out against the equity for senior citizens who are at least 62 years of age. The proceeds of the loan may be used for any purpose.
Reverse Mortgage gives you the freedom to convert your house into cash, and because there is no mortgage payment required on reverse mortgage loans, the money your borrow can be used for any purpose you desire whether you are looking to pay down your debt or enhance your overall lifestyle, that's totally up to you.
Reverse Mortgage gives you the freedom to convert your house into cash, and because there is no mortgage payment required on reverse mortgage loans, the money your borrow can be used for any purpose you desire whether you are looking to pay down your debt or enhance your overall lifestyle, that's totally up to you.
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The simplest way to explain a reverse mortgage, is that reverse mortgage is a home equity loan that creates cash liquidity for homeowners who are 62 years of age or older, and it does not need to be repaid until the borrower moves, sells the house, or passes away. Reverse Mortgage loan amount is calculated by a formula based on the home's value, the borrower's age, and current market interest rates.
Not everyone is able to build a suitable retirement income that will taken them through their golden years. Many retirees soon discover that the amount of their new monthly income is not enough to cover the expenses of living. While the cost of living continues to rise, retirement benefits become less and less adequate.
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Debra V. Scott
Oct 28, 2020
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