Cover medical expenses or in-home care. David J. Blatt guides you when requesting a Home Equity Conversion Mortgage (HECM) loan.
Points to Ponder
Get the liquid cash you need to maintain your current lifestyle. Reverse mortgages are taken by thousands of seniors every year. They can create a safe way to take care of yourself (and your spouse), while having the financial independence you have worked for all of your life. By acquiring a reverse mortgage, you can live in your home without a monthly mortgage payment for the rest of your life.
Eliminate your standard home mortgage. A reverse mortgage can be less expensive than a traditional home mortgage or home equity loan. This is due to the fact that with a traditional loan you have to add up all of the monthly payments you will be making over the years and include that figure in your costs. Many seniors who have taken home equity loans are having difficulty making the monthly payments, and they are now taking a reverse mortgage to pay off the equity loan and eliminate those payments.
Safety of a Reverse Mortgage
Start a financial plan that adjusts to your needs. The federal government regulates reverse mortgages. This means that the amount of money available to you and the costs you pay are primarily the same with every lender in the United States.
Trust David J. Blatt
Secure the rising costs of everyday living. Because reverse mortgages are relatively new to many people, there is a lot of conflicting and incorrect information about them. When seniors rely on authoritative sources like AARP®, HUD, and experienced lenders like David J. Blatt, they find that reverse mortgages are actually quite simple, and in many cases, beneficial for someone who is over 62 years old.