Can a Reverse Mortgage Help Me?
Considering a Reverse Mortgage?
Reverse mortgages enable eligible homeowners to access the money they have built up as equity in their homes. They are primarily designed to strengthen seniors’ personal and financial independence by providing funds without a monthly payment burden during their lifetime in the home. The major eligibility requirements are that the applicant must be at least 62 years of age and own and occupy a home whose mortgage has been paid in full or with a very low mortgage balance remaining.
The Benefits of a Reverse Mortgage include:
Tax-free funds for as long as you live in your home.
No loan repayment for as long as you live in your home.
No income, medical or credit requirements
Retain ownership of your home for life; this is guaranteed as long as you maintain your home, and pay insurance and real estate taxes.
Choose a cash flow plan tailored to your needs.
No restrictions on how you may use the funds.
A tax-advantaged way to pass on part of your estate today.
There is much information about reverse mortgages which can be obtained via the internet, and through your financial, legal and tax advisors.
Most important is that you understand what it entails and how it may benefit you.
On a personal note: My mother did a reverse mortgage - it was the best thing she could have done. She now has money to pay all her bills each month, was able to purchase a new vehicle (first one in 40 years), has been able to travel and enjoy life. Without it she would not have been able to keep her house. If you know of seniors who might be in the same situation, have them check out the details, it could make a big difference in their lives.
posted by St Lucie Homes on the Treasure Coast @ 5/01/2007 03:15:00 PM
1 Comments:
Hello I want to congratulate to you. This site is fantastic, looks like entertained and very good to me it elaborated. I invite them to that they explore a little on my site of the Web
Our real estate listing includes great opportunities on Costa Rica Central Valley’s provinces such as San Jose, our Capital, with remarkable cities as Escazu at the west, or Curridabat at the east, experiencing a great development on both commercial and residential properties, making their real estate pricing highly attractive to investors; on other hand, Alajuela city gathers places with a very special warm weather such as Grecia, La Garita and Atenas, or beautiful farms for agricultural, cattle or nature preservation purposes as those located on San Carlos or Sarapiqui. We also offer land properties in Guanacaste, which is the province, along with Puntarenas, with the most beautiful tropical beaches on the Pacific Coast such as Tamarindo, Playa Grande, El Coco, Playa Hermosa, Nosara, Samara, Herradura, Jaco, Manuel Antonio, Dominical and Golfito, where the real estate business occupies the first place as the local economic activity.
Great investment opportunity at Costa Rica Pacific Coast, Preconstruction condos in costa rica
Condo sales in costa rica, Retirement property in costa rica. Visit us for more info at: http://www.costa-ricarealestate.com/
Post a Comment
<< Home