The Reverse Mortgage – you’ve heard about it, but do you really know what it is and how it works? There are many misconceptions out there so it is important to have the facts before deciding if it is right for you.
In a nutshell, a reverse mortgage enables seniors to convert their home’s equity into cash while retaining ownership of the home. There are no monthly payments and repayment is deferred as long as the borrower lives in their home. The funds can be used in a number of ways.
Michelle White from Ideal Flooring says her company helps older adults make their homes more “aging- friendly.” “We can help you refresh your flooring so, as you age, it will accommodate your mobility needs, making navigation of any type easier for you.”
“A reverse mortgage can help older adults stay in their homes as long as possible and avoid nursing homes,” says Jenna Robinson of BrightStar care, a home healthcare company. Some of their clients have used reverse mortgage funds to hire in-home help for both medical and non-medical needs.
Ingrid Sullivan is a realtor in Arlington, Texas devoted to making life easier for her senior clients. “Many seniors are in homes that aren’t appropriate for ‘aging in place.’ A reverse mortgage can help them purchase a new home that is better suited to their current and/or future needs.”
To find out more about how a Reverse Mortgage can best work for you, attend our complimentary dinner workshop on January 22 at 5:00 pm in Arlington, Find all the details at www.SeniorDownsizingExperts.com.