“I’ve lived in my home for over 30 years. I didn’t want to leave it, and go where I didn’t know the neighbors. A reverse mortgage allowed me to have the security of staying in my home without a mortgage payment. What a relief!” —KS, Denver
Aging in place is a benefit to many seniors. The ability to maintain the familiarity with the neighborhood, and routine of life can reduce stress and add years. For many seniors who are living longer, the problem they face is not having enough funds to live out their retirement.
Spouses are thinking about what will happen when one of them passes away. Will the surviving spouse be able to stay in the home comfortably? The answer is often “Yes!” when a reverse mortgage has been put in place to ensure there is no mortgage payment* and often, a sum of money available to the surviving spouse. The bank never owns the home and the property may be willed to the heirs.
Because a reverse mortgage is FHA insured, it is a non-recourse loan. No one is saddled with debt because of the reverse mortgage. As a financial tool, a reverse mortgage is a wise choice in many cases, providing relief from financial pressure in the near term, and greater financial security in the long-term.
The money from a reverse mortgage is tax-free and can be used for any purpose. Contact me for additional information and a proposal created just for you.
Silver Leaf Mortgage, Colorado’s #1 Reverse Mortgage Broker.
Matt Witt, NMLS #1638881, President at Silver Leaf Mortgage in Centennial.
Contact me at: 720-458-4034, or you can email me at: MattW@SilverLeafMortgage.com
Listen to: The Reverse Mortgage Show Hosted by Matt Witt on Legends 810 and 94.3FM, 670 KLTT, 100.7FM KLZ and 560 KLZ. Or, see us live on Colorado’s Best KWGN CW2 & Fox-31, or Colorado & Company KUSA 9News
* The homeowner is still responsible for applicable property taxes and homeowner’s insurance, as well as maintaining the property.
Tags: age in place, reverse mortgage, reverse mortgage specialist