Unlock Your Home’s Equity for a Comfortable Retirement 🌅
Reverse Mortgages – A Financial Tool for Seniors 💰
Reverse mortgages allow homeowners aged 62 and older to convert a portion of their home equity into cash. Learn how this option can help you enjoy your retirement!
Interested in a Reverse Mortgage? 🏡
A reverse mortgage can provide financial flexibility by allowing you to access your home’s equity without selling your home. Rob Slayton at Geneva Financial is here to help you navigate the process and determine if this option is right for you.
Fill out the form to explore your options and see how a reverse mortgage can benefit your retirement!
Empowering Seniors Through Home Equity 💡
Reverse Mortgages – A Smart Choice for Financial Freedom
Reverse mortgages can provide vital funds for seniors looking to improve their quality of life. Learn more about how this unique financial product works and its eligibility requirements.
What is a Reverse Mortgage?
A reverse mortgage is a type of loan available to homeowners aged 62 and older, allowing them to convert part of their home equity into cash without monthly mortgage payments.
Who is eligible for a Reverse Mortgage?
Homeowners must be at least 62 years old, live in the home as their primary residence, and have sufficient equity to qualify. Additional requirements may apply.
How does a Reverse Mortgage work?
The lender pays the homeowner based on the equity in the home, which does not need to be repaid until the homeowner moves, sells the home, or passes away.
Are there any costs associated with a Reverse Mortgage?
Yes, reverse mortgages typically come with closing costs, mortgage insurance, and servicing fees. It’s important to understand these costs before proceeding.
What happens to the home after the Reverse Mortgage is repaid?
After repayment, the remaining equity belongs to the homeowner or their heirs. If the home is sold, any excess funds after repaying the loan can be inherited.
