A reverse mortgage is a loan that enables homeowners 62 and older, to convert home equity into tax-free income without selling, giving up title, or making monthly mortgage payments.

A reverse mortgage is a loan that allows anyone over 62 to use the equity in their homes to improve their quality of life and maintain their independence. The payment stream is “reversed” and the lender makes payments to you.

Using your home equity, this program allows you to receive tax-free income. This may be a regular monthly income, a line of credit, a lump sum, or a combination of these options. These can be tailored to best fit your individual requirements.

You have all the benefits of maintaining home ownership and, no repayment is required as long as you remain in your home. A reverse mortgage loan puts to use the equity in your home and you can receive cash, a tax-free monthly income, and/or a line of credit.

There are no income or credit qualifications and does not affect Social Security or Medicare.

By converting equity into income, a reverse mortgage is a safe way to stay in your  home and receive cash to use for any purpose. More importantly you retain title and you keep living in your home.