Video: Why Talk to a Reverse Mortgage Specialist?
You’re retired – or soon will be – and you’re in the process of planning for the days after you stop working. You’re checking with your financial advisor regularly to make sure your IRA or 401K is performing as you hoped, and you’ve worked long enough that your Social Security payments will be near the maximum…. So, your retirement plans seem to be on track. But as you observe all the market volatility these days and watch the cost of just about everything rise, you’re beginning to wonder whether this approach will provide enough money to fund the retirement lifestyle you and your family desire.
Let a reverse mortgage specialist show you how a reverse mortgage – an often-overlooked retirement planning option – can benefit senior homeowners. A reverse mortgage allows you to access the equityEquity is the portion of your home's value that you own. It's calculated by subtracting the balance of your mortgage and any other loans secured by the home from its current market value. Your equity grows in two ways: by paying down... More in your home – without selling it -and turn it into additional cash flow that you can use to fund a more secure retirement. It eliminates the principal and interestInterest: the cost of borrowing money, charged as a percentage of the outstanding balance and paid in arrears (unlike rent, which is paid in advance). More payment requirement, and instead provides payouts as a lump sum, monthly payments, a line of credit, or a combination. You can use the extra cash to renovate your home, fund a grandchild’s education, or function as a “safety fund” should an emergency like an illness or accident occur.
To find out more about reverse mortgages and retirement planning, call us today.
Renee Duval
Bookend Lending LLC
(603) 345-5644
Renee@bookendlending.com
Reverse Mortgages in Concord New Hampshire