Reverse Mortgages Can Be a Valuable Retirement Tool
(NewsUSA) - This article is a paid advertisement. The content was provided by One Reverse Mortgage.
Today's reverse mortgage has more uses than you may realize. In fact, many financial advisors are now recommending this loan to their older clients. Why?
A reverse mortgage allows you to access a portion of your home equity and use the funds to pay off your current mortgage.* Any remaining money can be used for anything. The program has a variety of products to meet specific goals.
The fixed rate loan allows you to receive a lump sum or monthly distributions. The purchase loan product allows you to purchase a home without a required monthly mortgage payment as long as you live there.* However, according to One Reverse Mortgage, a leading lender in the reverse mortgage industry since 2007, the most popular and beneficial loan option is the line of credit, which has the potential to grow in value over time.
It's a fact that people today are living longer; and studies show that many are not financially prepared for retirement. According to an article from Time Magazine, one in three Americans does not have any money saved for retirement.**
The reverse mortgage line of credit addresses these concerns. It isn't just for people who have an immediate need. It is even more beneficial as a retirement tool because the line of credit product can actually extend the life of your retirement savings and give you access to more money later. Another smart way to utilize it is to live off the proceeds to delay using other benefits to give them time to increase in value. The greatest feature of the reverse mortgage line of credit is that the available funds increase in value over time when left untouched. It can be a perfect safety net for future expenses - both planned and unexpected.
The mission of One Reverse Mortgage is to educate people about this program and how it can be best used in retirement. The experts at One Reverse Mortgage are licensed professionals and the company operates nationwide. It also has an A+ rating with the Better Business Bureau.
For more information, visit www.onereversemortgage.com
* Homeowner is still responsible for taxes, insurance and property maintenance.
**Kirkham, Elyssa. "1 in 3 Americans Has Saved $0 for Retirement." Time Magazine. 14 March 2016. http://time.com/money/4258451/retirement-savings-survey
Equal Housing Lender. Listed in all 50 states. One Reverse Mortgage NMLS #2052
These materials are not from HUD or FHA and were not approved by HUD or a government agency.
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