THE BENEFITS OF REVERSE MORTGAGE
A reverse mortgage can be used to turn a portion of the equity in your home into cash that can be used for many different purposes that may enhance and extend your retirement.
If you currently have a mortgage, a reverse mortgage could eliminate your mortgage payment (taxes and insurance must still be paid, and the home maintained), and also allow you to access any additional equity (over and above your mortgage balance), to create accessible cash which is not readily available while in the form of home equity. You have spent many years putting your money into your home equity, and now with a reverse mortgage, you may be able to convert some of that equity into tax-free cash.*
It can provide the financial flexibility to pay for long-term care insurance without losing your home.
A reverse mortgage can be used to turn a portion of your home's equity into cash that can be used for a variety purposes.
If you live in and maintain your home, and pay taxes and insurance, you will not be required to make monthly payments.
By using a reverse mortgage to pay for health insurance before Medicare kicks in, you can retire early without fear of affording care.