I Want To Stay in My Home
by Jeffrey L. Bangerter
September 5th, 2008
Studies show that most seniors do not want to leave their home.
Half of the people over age 65 have lived in the same home for more than 20 years.
They have little or no interest in making a move even though a new living environment would seem to be more desirable.
Many seniors have paid off their mortgages and after reaching such an important goal once, it is not surprising that many seniors are resistant to any type of new mortgage on the property.
When there is a pressing need for additional income in order to continue residing in the home, however, there is a way to make use of that built up equity.
The reverse mortgage loan offers an excellent solution to the need or want for additional income or cash.
A reverse mortgage loan gives the homeowner an option to receive money from the bank, instead of paying money to the bank.
The homeowner is using the equity in the home but is still able to reside in the home.
The reverse mortgage is a time-tested program designed to allow homeowners over age 62 (60 with some products) to gain financial independence by borrowing against the equity in their home.
Various names are used to refer to a reverse mortgage:
- Reverse mortgage
- Reverse home mortgage
- Home equity conversion mortgage
- Reverse equity mortgage
- Reverse home equity mortgage
They all refer to the same reverse mortgage loan.
There are various reverse mortgage programs available and various ways to use it to help you meet a specific goal, the key is to talk to a professional Reverse Mortgage Loan Officer that understands all of the options and is willing to give you the pros and cons to the reverse mortgage loan you are looking into.
If your goal is to stay at home I am sure we can find the right reverse mortgage loan for you.
Call Us-866-309-6626 or fill out the Free Reverse Mortgage Quote on the right and we will contact you with your best reverse mortgage loan.