Sunday Seniors Funnies 4-5

April 2, 2023

What Is a Reverse Mortgage & What Does It Mean to Me?

A reverse mortgage is an increasingly attractive proposition for older Americans who may be low on cash, need to supplement retirement income, and want to use their home equity to remain in the house they own. That's a tempting opportunity in an age where millions of U.S. seniors are struggling to save enough money for retirement. Data from AnytimeEstimate shows that 56% of Americans believe they will outlive their retirement savings, and 16% of Americans have saved zero dollars for retirement.

Even so, there are some risks involved in cutting a deal on a reverse mortgage (otherwise known as a home-equity-conversion mortgage.) Such mortgages are supervised by the U.S. Federal Housing Administration, an arm of the Department of Housing and Urban Development, so there is some level of regulatory scrutiny.

You own your home just like you do now and still have to pay property taxes and insurance on the home, but don't need to repay the money until he or she leaves the home or dies.

A closer look at reverse mortgages may provide some answers for Americans approaching their golden years but lack adequate retirement savings.

Visit my website www.sunshinestatereverse.com to learn more about reverse mortgages and use the reverse mortgage calculator to find out how much you can qualify fo

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Thomas Jackson

I love what I do! because I really change peoples lives. So many of us think life is good , but how can it be so good when so many seniors are living from thier social security check. Sure, you can pay the bills but is that why you worked for all your life? Did you forget to have fun while retired? Ever imagine what it would be like if you could take trips? A cruise, or visit the kids more often? Do more for your grand kids? Do more for yourselves! Check out my website to find out more, and use the free reverse mortgage calculator to find out how much you may qualify for. We have peaked at the high end of home prices. Now it has started a slow quiet down turn. Follow your homes value on www.zillow.com Like you, I am also a senior citizen (but a young one at 66) so follow my blogs for weekly financial information we can use.

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Sunday Seniors Funnies 4-5

What Is a Reverse Mortgage & What Does It Mean to Me?

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