Older Homeowners can convert home equity to cash using a Reverse Mortgage.
A Reverse Mortgage is very different from a traditional mortgage. It is a type of home equity loan that lenders reserve for older homeowners. This type of loan does not require monthly mortgage payments, but instead the full loan repayment takes place after the borrower moves out or passes away.
Boosts Cash for Retired Homeowners
You Continue to Own Your Home & Don’t Have to Move
The Money you get from a Reverse Mortgage is not taxable
Reverse Mortgages are popular as a source for supplemental income for retired-homeowners, and have become a retirement planning tool for many homeowners.