3 Ways That A Reverse Mortgage Can Transform Your Retirement

Dated: 11/21/2017

Views: 12

3 Ways That a Reverse Mortgage Can Transform Your Retirement

3 Ways That a Reverse Mortgage Can Transform Your RetirementAre you a retired individual looking for ways to increase your financial security? If so, you may have heard of a home equity conversion mortgage, more commonly known as a reverse mortgage. Used correctly, this is one of the most effective financial products for retirees who own their home.

Let’s explore three ways that a reverse mortgage can help to transform a dull retirement into one filled with excitement.

It’s All About Flexibility

The primary benefit that one receives with a reverse mortgage is financial flexibility. It is an excellent way to tap into the equity that has built up in your home over time without having to sell the house and move out. Moreover, unlike a traditional home loan, the payment terms are far more flexible. In many cases, payments are not required until you are ready to leave the home permanently.

An Extra Source Of Income

Is your lifestyle starting to suffer because you do not have a regular salary coming in for you and your partner? Regardless of how much you have saved in 401-k and other retirement accounts, losing that regular monthly income can be depressing.

The good news: a reverse mortgage can help to change that. The funds you receive can be used however you want. You can invest in renovations for your home, take a nice vacation, invest in the stock market or simply leave it in your bank account. It is a helpful ‘bridge’ income source that will ensure that you have no trouble taking care of life’s many expenses.

A Contingency Fund, Just ‘In Case’

Finally, a reverse mortgage can be an excellent contingency fund. If you take this out as a line of credit, the money will be available if and when they are needed. Many retired individuals lack a financial ‘safety net’ and end up suffering due to unexpected health or other costs. With a reverse mortgage, you can sleep soundly knowing that emergency cash is there if needed.

As you can see, taking advantage of a reverse mortgage can be the catalyst that helps take your retirement to the next level. To learn more about these unique financial products, contact our professional mortgage team today. We are happy to share how a reverse mortgage can benefit you and your family.

For More Info Visit: http://www.bondstretemortgage.com

Blog author image

Jessica Rojas

Jessica Rojas is an extremely dedicated and committed real estate agent who has been working in the Real Estate field since 1997. She became a licensed real estate agent in 2009 as a sales associate ....

Want to Advertise on this Site?

Latest Blog Posts

Whats Ahead For Mortgage Rates This Week February 20th 2018

What’s Ahead For Mortgage Rates This Week – February 20th, 2018 Last week’s weeks economic releases included readings on the NAHB Housing Market Index, housing starts and building permits

Read More

Mortgage Rates Predicted To Rise In 2018 If You Want To Buy Now Is The Time

Buying a home is about to get a lot more expensive.According to a recent report from Freddie Mac, mortgage interest rates are predicted to rise in 2018. The rate for a 30-yr fixed-rate mortgage was.

Read More

Why Should One Consider Refinancing Their Mortgage Now

Why Should One Consider Refinancing Their Mortgage Now? Refinancing a mortgage is a golden opportunity to lock in today’s low interest rate for the next 15 or 30 years. While interest rates now

Read More

Most NonOwners Claim They Cant Afford A Home Could They Be Wrong

Many potential homeowners think purchasing property is out of their reach. According to the National Association of Realtor's 2018 Aspiring Home Buyers Profile, 56% of non-owners claim an inability

Read More