My Financial Healthcheck

A Reverse Mortgage can allow any senior citizen over 62 to take advantage of the new FHA loan limit of $625,500 which was recently increased from the maximum amount of $417,000. A Reverse Mortgage allows seniors to live in their home for as long as they choose and receive tax- free money to do all the things they want.  They can pay off bills, make home improvements, take a trip and/or help their children. They keep the title to their home, and can never owe more than the home’s market value. With so many seniors on a fixed income and having lost so much value with their retirement funds in the market this past year, the time to take advantage of their home equity is now.  No minimum credit scores to qualify, no income needed, no medical checkup required. They would have options to receive their equity in a lump sum, a open credit line or monthly payments for as long as they live in the property.  The amount of the approved Reverse Mortgage is based on their age, present home value minus any outstanding mortgages  and closing costs. Rates are at the lowest they have ever been.  More to follow….…