Senior Coverage

How A Reverse Mortgage Can Help You Live the Retirement You Deserve

Reverse mortgages are a great way to unlock some of the equity in your home. You’ll get the money you can use now and you don’t have to worry about paying it back until you sell the house or pass away.

If you’re struggling to live the retirement you always wanted, a reverse mortgage could be the solution.

Senior Coverage has been helping American homeowners with equity options for several years. It’s a referral service that connects consumers to the most suitable services, products, and plans. It is just a phone call away 1 (888) 479-1226, and the initial consultation is 100% free, with no obligations to buy.

In this guide, one of its experts provides some top tips on how a reverse mortgage can turn your life around and let you enjoy your retirement.

1. You’ll Get Cash to Live Comfortably

A reverse mortgage gives you cash as a lump sum or a monthly amount. You can use the money to book vacations, take a cruise, treat members of your family, and live stress-free.

The type of reverse mortgage that you chose, along with the value of your home equity, may dictate how much you get and how it is paid to you.

If you’re not sure which option is best suited to your needs, contact Senior Coverage. You’ll get the help you need quickly and may be directed to the best provider.

2. You Can Pay Off Your Debts

Over three-quarters of us may die with some kind of debt. The older we get, the more likely we are to have paid off mortgage debts and car loans, but the likelihood of substantial medical debts and credit card debts increases.

It’s hard to live a stress-free life when you have the ominous shroud of debt hanging over you. Financial stress is thought to be one of the leading causes of depression and suicide in middle-aged and old-age Americans, and as the country’s financial woes deepen, those problems intensify.

With a reverse mortgage, you can clear your debts quickly and completely, freeing up more of your income to spend on the things that matter, as opposed to being lost on interest and fees.

3. Your Monthly Obligations Won’t Increase

Many home equity options give you a cash sum in exchange for an additional mortgage. As a result, you need to pay more money every month, increasing your outgoings and stretching your retirement budget very thin.

With a reverse mortgage, there are no monthly payments. Instead, you’ll be given money and may only need to repay when you sell your home or move your primary residence.

Where to Get Reverse Mortgages

Not sure how reverse mortgages work, need a little guidance? Contact 1 (888) 479-1226 or visit the Senior Coverage website. You don’t need to be an expert; you just need to have your own home and be over the age of 62. If you’re not sure whether you qualify or not, don’t worry, as Senior Coverage can help you with that, as well.


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