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If you are a homeowner, 62 years of age or older, then a reverse mortgage may be right for you.

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How Are Seniors Using Reverse Mortgages?

67% undertake a reverse mortgage as means to reduce debt, an indication it’s needed to meet an immediate financial need. Another 73% cited the need to plan ahead for unexpected emergencies."

35% of older Americans see their homes not just as secure places to live, but also as collateral for a loan. About 14% are taking cash out of their house through a home equity loan or reverse mortgage."

Baby boomers are casting an eye toward reverse mortgages now. The percentage of prospective reverse mortgage borrowers in the 62 to 64 age group has climbed 15% since 1999, despite the fact that younger applicants have had lower available loan limits."

Metlife Mature Market Study, 2010

5 Reasons To Use A Reverse Mortgage

A Reverse Mortgage can help you:

  • Eliminate monthly mortgage payments
  • Use proceeds however you want
  • Continue to stay and live in your home
  • Pay off bills and debts
  • Maintain your lifestyle

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