With the novel coronavirus COVID-19 becoming a pandemic and changing life as we know it in the US, stock markets globally have lost trillions of dollars of value in the past month. Now, not only do we have to protect our health, but we also have to protect our wealth.
At times of severe market volatility, Senior investors often panic or are forced to sell and sustain large losses to their retirement portfolio. Many times, these losses cannot be recovered quickly. With a Reverse Mortgage Line of Credit, Senior homeowners can access funds by tapping into their housing wealth rather than selling stocks or other assets, thereby creating a hedge against the market downturn and beyond.
Over time, as market volatility decreases and stock market-based assets return to stable prices, you have the option to sell them, if needed, rather than sustaining large market losses now.
There are many different uses of a tax-free Reverse Mortgage Line of Credit. It can be a powerful tool in stabilizing and complimenting your retirement needs. The good news for Senior homeowners is a Reverse Mortgage has easy income and credit requirements and can often be put in place in as little as fifteen days.
To find out if a reverse mortgage is right for you, contact your local reverse mortgage experts at Silver Leaf Mortgage today. Most loans close within 30 days, giving you financial security in these unprecedented times.