The amount that can be borrowed is dependent on your age, the location of your home, type of home, the condition of your home and the appraised value of your home. A Reverse mortgage, a loan secured against the value of your home. Unlike a regular mortgage, with a reverse mortgage you are not required to make regular mortgage payments. The loan is repaid only when the homeowners no longer live in the home. The homeowner is required to keep the property in good condition, up to date with property taxes and property insurance. The money received is tax-free and can be used however the homeowner wishes. A Reverse Mortgage can help you pay off debts, handle unexpected expenses, let you provide a helping hand to your children or grandchildren, improve your day-to-day standard of living, make a special trip or large purchase or Investment! At Reverse Mortgage Advisor we have over 10+ years of experience helping 100's of people free up equity in their property. With our help our clients:
- Pay off debt
- Help children & grandchildren
- Resolve unexpected expenses
- Renovate their homes
- Take a dream vacation
- Make a large purchase
- Make an investment
