Have you considered how to pay for health care if you should need it? What if you need home care? You may be healthy now, but if you are 62 or older and looking at the possibility of rising medical costs, prescriptions or home care, then a Reverse Mortgage could be the answer. Reverse Mortgages have helped many seniors live stress free in their golden years by using the equity in their homes! We have access to a full range of mortgage sources and our lending specialists are dedicated to finding the right loan-with the best rates, terms and costs-to meet your unique needs. If you would like information about a reverse mortgage in The Villages, Florida, contact iReverse Home Loans.
What is a Reverse Mortgage
source reversemortgage.org
A reverse mortgage is a loan available to people over 62 years of age that enables a borrower to convert part of the equity in their home into cash.
Reverse mortgages were conceived as a means to help people in or near retirement and with limited income use the money they have put into their home to pay off debts (including traditional mortgages), cover basic monthly living expenses or pay for health care. There is no restriction on how a borrower may use their reverse mortgage proceeds.
The loan is called a reverse mortgage because the traditional mortgage payback stream is reversed. Instead of making monthly payments to a lender (as with a traditional mortgage), the lender makes payments to the borrower.
If you have questions or are ready to begin the process for a reverse mortgage in The Villages, Florida, call Bob at iReverse at 800-486-8786 ext 813.