Reverse Mortgage

Is an FHA/HUD loan also. This is a program that is available to people 62 years old or older. The basic requirements are that you have equity in your howe, at 62 a rough gauge is 50% equity. As you get older the equity in your home can be less and you still may qualify. The Reverse Mortgage is a Federally Insured program that allows you to access the equity in your home and you never have to pay it back.

Upon passing the estate will cover the loan. It is a very powerful tool but like any tool it can be used for good or bad.

Everyone's situation is unique to them so you need to sit with a professional and decide if this is appropriate planning for you.

Reverse Mortgage

The program can quite literally change your life!