Have you found now that you are retired you constantly worry about which bills to pay on your fixed income? Is there no joy in the Golden years because your budget is so tight? A reverse mortgage may be the lifesaving help you have been seeking.
With a government-insured reverse mortgage, you can pay off your current mortgage, eliminate your monthly mortgage payment* and get the budget breathing-room you need. Like so many seniors right here in Colorado have discovered, not only can they eliminate their mortgage payment, they can also get tax-free cash to use for any purpose.
Even if you don’t have a mortgage, you may be “house rich and cash poor.” You have paid into your home for many years and have accumulated housing wealth that can only be accessed if you sell. With a reverse mortgage, you can access a portion of the equity in your home while you continue to own the home so you can get cash and make life a little easier.
To qualify for a reverse mortgage at least one borrower must be 62 or older, the home must be your primary residence, and you should have 30–60% equity. Just to clarify, with a reverse mortgage, you are the only one who owns your home and its equity. The bank does not.
We all want to live a long, healthy, independent life. With a reverse mortgage, aging-in-place is possible! Call me today at 720-458-4034 to see if a reverse mortgage is right 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
Tags: age in place, reverse mortgage, Reverse Mortgage Basics, Ways to use a Reverse Mortgage
