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    on your home mortgage for years, you have reduced your debt and increased your equity in the property. Now, with a reverse mortgage in place, your equity is decreased and your debt increased. You never have to repay the debt as long as you live in the ho
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    That’s right – once you turn 62 years of age and own your own home, you become eligible for a reverse mortgage. This relatively new mortgage vehicle can provide you with income from the equity in your home. In fact, if you owe less than 20% to 40% of the value of your home, you can use a reverse mortgage to pay off your existing loan and provide yourself with a monthly income – all at the same time.

    Know your options!

    Whether or not you intend to get a reserve mortgage at this time, you at least need to understand how reverse mortgages work so that, if needed, you will know about our home equity ‘ace in the hole’. Let’s say that you are going merrily though retirement without many cares and with your financial life pretty much in balance when a serious illness, hospital bill, or other catastrophe confronts you. Understanding the equity in your home and how a reverse mortgage works, you’ll have the security of knowing how to handle the crisis situation, should it occur.

    As you have paid on your home mortgage for years, you have reduced your debt and increased your equity in the property. Now, with a reverse mortgage in place, your equity is decreased and your debt increased. You never have to repay the debt as long as you live in the hou

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    value of your home, you can use a reverse mortgage to pay off your existing loan and provide yourself with a monthly income – all at the same time.

    Know your options!

    Whether or not you intend to get a reserve mortgage at this time, you at least need to understand how reverse mortgages work so that, if needed, you will know about our home equity ‘ace in the hole’. Let’s say that you are going merrily though retirement without many cares and with your financial life pretty much in balance when a serious illness, hospital bill, or other catastrophe confronts you. Understanding the equity in your home and how a reverse mortgage works, you’ll have the security of knowing how to handle the crisis situation, should it occur.

    As you have paid on your home mortgage for years, you have reduced your debt and increased your equity in the property. Now, with a reverse mortgage in place, your equity is decreased and your debt increased. You never have to repay the debt as long as you live in the ho

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    at least need to understand how reverse mortgages work so that, if needed, you will know about our home equity ‘ace in the hole’. Let’s say that you are going merrily though retirement without many cares and with your financial life pretty much in balance when a serious illness, hospital bill, or other catastrophe confronts you. Understanding the equity in your home and how a reverse mortgage works, you’ll have the security of knowing how to handle the crisis situation, should it occur.

    As you have paid on your home mortgage for years, you have reduced your debt and increased your equity in the property. Now, with a reverse mortgage in place, your equity is decreased and your debt increased. You never have to repay the debt as long as you live in the ho

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    hen a serious illness, hospital bill, or other catastrophe confronts you. Understanding the equity in your home and how a reverse mortgage works, you’ll have the security of knowing how to handle the crisis situation, should it occur.

    As you have paid on your home mortgage for years, you have reduced your debt and increased your equity in the property. Now, with a reverse mortgage in place, your equity is decreased and your debt increased. You never have to repay the debt as long as you live in the ho

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    on your home mortgage for years, you have reduced your debt and increased your equity in the property. Now, with a reverse mortgage in place, your equity is decreased and your debt increased. You never have to repay the debt as long as you live in the house. The mortgage balance only must be repaid when you move or pass away. If the home and mortgage are in joint names, your surviving spouse can continue to own the home and to live there after your death. In fact, if you live to be 110 and outlive the equity in your home, the shortfall is covered by reverse mortgage insurance provided by our Federal government. If and when you should decide to sell your home, the outstanding mortgage balance must be repaid.

    Improve Your Family’s Cash Flow

    When you get a reverse mortgage, you will have several options available to you, You can take your equity as a lump sum, payoff any outstanding mortgage balance, and invest or spend the remaining funds or take a monthly amount for the remainder of your life. Such an option has a very beneficial effect on your monthly cash flow. Just imagine, your mortgage payment obligation is replaced by a monthly check. That’s what we call a Double Whammy on your budget!

    Since reverse mortgages (sometimes called a

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