Reverse Mortgages Offer Seniors Financial Security
Retirement is an exciting time in your life. Wouldn’t you like to have more money and confidence to explore life’s many possibilities? Unfortunately, most retirees are in a challenging position in today’s economy. They live on a fixed income in a world of rising costs. Now, you can hold the key to staying in your home without worrying about your financial future. They key is a Reverse Mortgage. With a federally-insured Reverse Mortgages, you are in control.
In order to qualify for a Reverse Mortgage, you the homeowner must be at least 62 and live in the property as your primary residence. There are no income or credit requirements, no monthly payments and the money you receive from the program us tax-free. In addition, you can have a current mortgage on the home and still be eligible for a Reverse Mortgage. You can use the money to pay off your existing mortgage putting an end to your monthly mortgage payments and worries about your financial future.
Proceeds from the Reverse Mortgage can be taken in a variety of ways. You can choose from a lump sum, a line-of-credit, and a check each month or a combination of these methods. The money you receive can be used for any reason. For instance, the most common uses include paying off the current mortgage paying off credit card debt, doing home improvements, traveling, buying a dream car and helping family members. The choice is yours as to how you use your increased cash-flow.
Over the years, many misconceptions have been associated with the Reverse Mortgage. The most common one is the bank lends you money and then takes back the home when you die. This is false. When a person participates in the Reverse Mortgage, they still own their home. This means that they can sell the property if they wish or leave it to their heirs when the time comes. In addition, retirees can never be forced to leave the property as long as they reside there as their primary residence.
Why choose Academy Mortgage? Our focus at Academy is to ensure that our customers fully understand their options when it comes to a Reverse Mortgage. We want to educate our customers so that they will have the confidence of knowing that they are making the best financial decision available to them. With over 17 year’s experience, we understand the unique financial obstacles facing today’s seniors. We know Reverse Mortgages and we want to pass on that knowledge. Give Academy Mortgage a call at 1-800-420-5515 and learn how you can live more securely. 
