News for Public Officials and the People They Serve  and the people they serve

 

Retire on Your Own Terms

Important facts about retiring with a reverse mortgage:

  • You continue to own your home and live there for as long as you want.

  • You can refinance or sell whenever you want with no penalty.

  • No credit or income requirements.

  • You will never make another mortgage payment

  • You can use the money any way you want. It's your money.

  • The money you receive is tax-free

  • Click here to learn more.

 

Let Your House Secure Your Retirement and Put Tax-Free Money in Your Pocket

If you are 62 years old or older here is some good news.

The American Recovery and Reinvestment Act raised the limit on what the bank can pay seniors for a government-backed reverse mortgage to $625,500.

In addition, there are no income, employment or credit qualifying restrictions for seniors. You own your home - not the bank and you never make a mortgage payment while you live in your home. The money you receive is tax-free and will not affect your Social Security benefits.

If you or your spouse is over the age of 62, you can get a Free Reverse Mortgage Guide that explains all your options and simplifies the application process.

You'll find out:

  • Do you qualify?
  • How much money could you get?
  • Is a reverse mortgage right for you?
  • How does it work?
  • What kind of plans for seniors are available?
  • And any other answers you may be looking for

Get the free guide

 

What changes in the reverse mortgage program mean for you:

Tax Free: The money you receive is tax-free and will not affect your Social Security or Medicare benefits. You can spend the money anyway you choose.

Lump Sum or Monthly Cash: You may choose to receive a large lump sum (up to $625,000) or monthly cash payments from the bank.

Easier to Qualify: If you qualify as a senior homeowner, there are no income, employment or credit qualifying restrictions.

You Retain Ownership: You continue to own your home - not the bank.

Ends Mortgage Payments: You will never make another mortgage payment while you live in your home.

Pays off current mortgage: Even if you still owe money on a first or second mortgage, you can still qualify and your old home loans will be paid off.

No Penalties: Remember you continue to own your home so you can refinance or sell whenever you want - with no penalty.

No Restrictions on How You Use the Money: As a qualifying senior, you are free to use the money you receive any way you want. Some seniors use it to pay medical bills, get rid of high interest credit cards, make home improvements, or help the kids with college. It's your money so spend it however you want. You've earned it! Now you can stay in your home and enjoy a better retirement than you may have thought possible.

Find out if you qualify in 30 seconds.

 

 

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