I just got back from a training session on reverse mortgages and feel even better about their use in today’s market for seniors.  If you are a senior (age 62+) with substantial equity or no mortgage, this important asset may not be working for you as it could.  A couple of the biggest fears seniors have is running out of money and controlling expenses that just seem to keep going up every time they turn around.

Did you know you can take the equity from your home today to buy a home that may be more suitable to your needs and not have to make any mortgage payments?  Did you know you can use the equity in your current home to make repairs or improvements to make you home more suitable without having to may a payment?  A reverse mortgage can be used to purchase a new home or to finance other needs you may have.

A reverse mortgage enables you to tap into your equity in your home without selling it or increasing your monthly expenses…in fact it can add to your monthly income without paying income tax.  You still own your home and can remain there as long as you want without making a payment.  Then, when you no longer need the home, it is sold to pay off the mortgage and any additional amount received goes to you or your estate.

Sound too good to be true?  It’s not.  This is a FHA loan program insured by the government.  Call me today to see if this might make sense for you or click on my financial partner’s link to get more information.  www.wfhm.com/gregg-bailey.  This method of funding isn’t for everyone, but it definitely has it’s place.