About A Reverse Mortgage in The Villages, Florida
Excerpt from longtermcarelink.net
The proceeds from a reverse mortgage are tax-free and can be used for any legal purpose you wish:
- daily living expenses
- home repairs and improvements
- medical bills and prescription drugs
- pay-off of existing debts
- education, travel
- long-term care and/or long-term care insurance
- financial and estate tax plans
- gifts and trusts
- to purchase life insurance
- or any other needs you may have.
The amount of reverse mortgage benefit for which you may qualify, will depend on
- your age at the time you apply for the loan,
- the reverse mortgage program you choose,
- the value of your home, current interest rates,
- and for some products, where you live.
As a general rule, the older you are and the greater your equity, the larger the reverse mortgage benefit will be (up to certain limits, in some cases). The reverse mortgage must pay off any outstanding liens against your property before you can withdraw additional funds.
Have you considered how to pay for care if you should need it? What if you need home care? Reverse Mortgages from iReverse Home Loans have helped many seniors live stress free in their golden years by using the equity in their homes! If you would like information about a reverse mortgage in The Villages, Florida, contact our team at 800-486-8786 ext 813.