Reverse Mortgages

//Reverse Mortgages
Reverse Mortgages 2017-12-15T22:42:45+00:00

Convert equity in your home into tax-free income, without having to sell

Reverse Mortgages

A reverse mortgage is a loan that enables senior homeowners, age 62 and older, to convert part of their home equity into tax-free* income without having to sell their home, give up title to it, or make monthly mortgage payments. The loan becomes due when the last borrower permanently leaves the home.

A reverse mortgage uses the equity you have built up in your home to provide you with readily available cash.

What are the advantages of a reverse mortgage?

  • Remain independent. A reverse mortgage allows you to remain in your home and retain home ownership.
  • No monthly mortgage payments. Additionally, you need not pay back the reverse mortgage until you permanently move out of the home.
  • Tax-free money. Because the money you receive from a reverse mortgage is not considered income, it is tax free* and will not affect your Social Security or Medicare benefits.
  • Freedom and flexibility. The money you get from a reverse mortgage is yours to use in any way you choose.

* Consult Tax Advisor. Not all products available in all states.