Reverse Mortgage Group

Millions of seniors are enjoying the equity in their homes without making a mortgage payment. Many financial planners are utilizing the Line of Credit option of a Reverse Mortgage to help bring longevity and security to retirement portfolios of their clients. Reverse mortgages were created 25 years ago to help senior Americans convert a portion of their home equity into cash and/or allow them to eliminate their monthly mortgage payment. Loan proceeds are not taxable income, so most other benefits are not affected. Reverse mortgages are insured by the Federal Housing Administration (FHA) and allow seniors to age in place and achieve retirement security. With a reverse mortgage loan, you do not make monthly principal or interest payments on the loan. Instead the loan is paid with minimal monthly deductions of the home’s equity. And it’s repaid in full when the home is sold, refinanced, or the last borrower leaves the home.