This is NOT the reverse mortgage of the past. It's a great way to increase your cash flow during retirement! Enjoy a free drink from one of Hilton Head's finest distilleries and learn how to transform your retirement!
Top 5 Potential Advantages of this loan:
Eliminate your current monthly mortgage payment; refinance a traditional mortgage into a "payment optional" reverse mortgage, establish a growing Line of Credit (applies to unused funds) or receive monthly payments. (taxes, insurance and home must be maintained) Help seniors who, have paid off their mortgages and would like additional money to potentially enhance their retirement and/or quality of life Loan proceeds can be used to pay for in-home healthcare and/or nursing home costs. Reverse loan proceeds are usually tax free so this may help you IRA last longer and bridge the Medicare gap. Purchase a 2nd home investment property or upsize/downsize your primary home with no required monthly payments, except for taxes, insurance, and maintenance.
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