Reverse Mortgage

What a Beautiful chilly day in the mountains today! I wanted you to think about Reverse Mortgages.

This week a mortgage lender came in the office and passed out a brochure on REVERSE MORTGAGES. This has been expressed as away for you to update your home by making it more up to codes or changing out tubs to showers or making wider doors or maybe insulating your home to save on the power bill or changing. You could also re-place your heating and cooling system to cut back on your power bill. Another way to use this money is to re-place your windows if they are real thin glass or have holes in them. Roofs ware and tear and floors do as well so maybe you need money for that reason HOWEVER you may need your money to drive back and forth to the doctors office or for other medical reasons. I AM NOT A MORTGAGE BROKER SO CONTACT ONE TO TELL YOU WAYS YOU CAN USE THIS. I am just repeating what I discussed with one this week. And I am sure it depends on age, and how much equity you have in your home. The Reverse mortgage pays you a monthly or lump sum amount of money and once you pass away who ever you leave your house too will have to pay the bank back what you have borrowed or sale the home for them to re-coop their money back. This is more about a loved one or your self being able to live comfortable not about what you can inherit.

Again I hope this will help you or a loved one out.