Reverse Mortgage Las Vegas

One of the great advantages of a reverse mortgage is that you are not required to pay the loan back until the home is no longer your primary residence For more information on when a reverse mortgage comes due click here. Another great feature of a reverse mortgage is you can never owe more than the value of your home.

Benefits of a Reverse Mortgage

Reverse mortgages can be a powerful source of funding for those who need to increase their income to be comfortable in retirement. The largest asset that many retirees possess is their home or property. A reverse mortgage increases income without actually increasing the monthly payments and allows a retiree to stay in their home. If you are 62 years old or older and considering a reverse mortgage, the amount you will be eligible for is based on several factors, such as the value of your home, your age, and current interest rates. The amount of money you are eligible for will be dependent on a few factors: your age, the value of your home, and the current interest rates.

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