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Reverse Mortgage Blog

What are Some of the Unique Features of a Reverse Mortgage?

February 23, 2022

1-Minute Video:

Senior homeowners are finding that a reverse mortgage can be a cost-effective way of addressing some of their biggest financial concerns. For example, a reverse mortgage improves cash flow in retirement - free of income tax – allowing homeowners to pay off their existing mortgage by eliminating their monthly Principal & Interest payments. Homeowners can also use a reverse mortgage to consolidate their debt… and further improve their cash flow.

A more creative use of a reverse mortgage, is to help create a “safety net” fund, should an unexpected expense or a medical emergency arise. This fund can be used to pay for in-home care and to help a homeowner avoid being forced to go to a retirement or care facility. A reverse mortgage can also be used to help a homeowner update or remodel their home to make it easier for them to “age in place”. Some homeowners have even used a reverse mortgage to provide funding for education expenses or a new home as a living financial legacy for their kids or grandkids.

To find out more, call a C2 certified reverse mortgage specialist today.

 

Steve Mitchell

Reverse Mortgage Advisor

Monterey CA

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C2 Reverse Mortgage
Please enjoy our 1-Minute Video tips! Learn about Reverse Mortgages, Refinance Loans, Purchase Loans and HECM Loans from Reverse Mortgage Advisor and Home Equity Lender Steve Mitchell.
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Please enjoy our 1-Minute Video tips! Learn about Reverse Mortgages, Refinance Loans, Purchase Loans and HECM Loans from Reverse Mortgage Advisor and Home Equity Lender Steve Mitchell.
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