Benefits of a Reverse Mortgage

Facts About Reverse Mortgages in the Bay Area

Below is only a partial list of some of the many benefits that older homeowners are enjoying from Reverse Mortgages.

1. Able to Maintain their Lifestyle and most importantly their Financial Independence!
2. Comfort knowing they are secure and not a burden on their family
3. Remain living in their home for as long as they wish!
4. No restrictions on how they use the money they receive
5. No monthly mortgage payments!
6. They retain full ownership of their home
7. Proceeds are Tax Free and may be received in flexible ways
8. The HECM Reverse Mortgage is backed by the U.S. Government
9. No affect on Social Security or Medicare benefits
10. Home improvements and modifications
11. Able to purchase gifts for grandchildren and family
12. Travel and vacations
13. Purchase a new car or other large ticket item
14. Able to fund educational needs for their family
15. Purchase a new home or vacation property
16. Obtain Health and Long Term Care Insurance
17. Consolidate, reduce, and pay off debts
18. Easy to qualify – homeowners must be at least 62 years of age, own their home, and occupy the home as their primary residence
19. There are NO income or credit qualifications.