Your reverse home mortgage lender will help you determine how much you’re eligible to receive, but it’s up to you how you use it. It’s your money to spend or save as you see fit. You can even choose whether to receive it as cash, a line of credit, a monthly income, or a combination of these options. Some options that you can use your reverse home mortgage proceeds are:

Home repairs: Install safety grab bars in shower, spring cleaning, clean or replace carpeting, interior and exterior painting, general repairs, new roof, new hot water heater, new furnace, update kitchen appliances, remodel bathrooms, finish basement, landscaping improvements, repair or replace deck, or just buy a new home closer to your grandchildren. Not everyone realizes that a reverse mortgage can be used for a new home purchase!

(more…)

Can reverse mortgages in Denver CO help you like they helped this couple?

In 1977, Alan and Jeanne decided to move to the USA for a better way of life. They took a big chance by selling everything they owned, at the time, to move from England to America.

Today, they are enjoying the American way of life, but as they grow older, their concerns about their financial situation are mounting. They don’t believe that their health insurance coverage is as good and comprehensive as it was in England. Their current mortgage payment limits their discretionary income. They would love to travel and see more of this country, but have been unable to afford such an journey. (more…)

Reverse mortgage loans can give seniors greater peace of mind.

More and more seniors are finding themselves needing financial assistance. They’re seeing healthcare costs rise, experiencing Medicare and Social Security concerns, and feeling the pressures of living on a fixed income.

But more and more seniors are finding that a reverse mortgage loan can help improve their current situation by paying off an existing mortgage or other debt, as well as help them flan for and cover the monthly expenses that crop up unexpectedly. This short video shows how reverse mortgage loans can help seniors obtain greater peace of mind and keep their most important possession — their home.

(more…)