Reverse Mortgages in The Villages, Florida Equal Money for Elderly Homeowners
Reverse Mortgages Equal Money for Elderly Homeowners
By Nathaniel Hutchinson
Home Equity Conversion Mortgages can provide money for elderly homeowners in need by allowing them to tap the equity in their home as a line of credit, in one lump amount or as fixed monthly payments.
Ideal for senior citizens in need of cash to pay for health care costs and living expenses, HECM reverse mortgages allow homeowners to remain in their homes without having to make any monthly payments. (They do pay their real estate taxes and homeowners insurance.)
What is a reverse mortgage?
Insured by the federal government and provided by private lenders, the HECM reverse mortgage is a form of equity release that allows seniors over the age of 62 to access their home equity to cover emergencies or to pay for early retirement. The loan does not have to be repaid as long as the borrower remains in his or her home; however, the homeowner must continue to pay taxes and insurance on the property.
Have you considered how to pay for 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 from iReverse 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 provide Reverse Mortgages in The Villages, Florida and the surrounding communities. Call us today, 800-486-8786 ext 813.