Did you know that of 100 Americans surveyed over the age of 62 that 69% relied on friends, government assistance, or charity to pay their bills? If you’re 62 years or older, did you know that you can access your home’s equity using a reverse mortgage, and then use the equity to set up for your future years? Your retirement years are supposed to be stress free; living the American dream, not sitting on your couch and wondering how you’re going to pay your electric bill. Whether it’s the never ending stack of bills, your house is long overdue for repairs, or you just can’t keep up with the property anymore, a reverse mortgage might be the answer for you.
How It Works
If you own a home that is your primary residence and you are 62 years or older, the solution to your problem might be right under your feet by getting a reverse mortgage. I’m not a reverse mortgage lender, but I work closely with one and they could potentially help you and potentially create several options for you. Some of those might involve you selling the property or even buying a new one. The point is that you do have options. Getting approved for a reverse mortgage is based on the equity that you have in the home, not on how much your income is or what your credit is. You shouldn’t feel bad about not knowing about this option yet either because almost nobody does. Most of the information out there is either outdated or just flat out wrong. So if you’d like to learn more about how it works, contact your local Owner Advocate agent who specializes in this. They will start walking you right through on how everything works.