Reverse Mortgage Loans
• Receive a lump sum cash payment to use however you want!
• 62+ Years of age to be eligible
• Never make a payment as long as you live
• You remain the owner of the home
• You can never be kicked out of your home
• Click on this link for more info at HUD.GOV
• Non borrowing spouse can be younger than 62 years of age
• Surviving spouse can never be kicked out
• Surviving spouse will always remain owner of the home
• Payments continue as normal during surviving spouses life
• Heirs will get all the remaining equity in the home after loan is paid off
• If the loan balance exceeds the home value upon death, the bank eats it.
• Your kids will not be responsible for paying any of the loan back
Debunking 5 Myths of Reverse Mortgages Click here: https://blog.reversemortgage.org/2018/04/04/debunking-5-reverse-mortgage-myths/