Reverse Mortgages have always offered seniors a relatively safe way to
improve their quality of life. But today they offer lifelines of hope for
millions of struggling seniors. Reverse mortgages are often the only way
struggling seniors can stay in their homes and enjoy their golden years.
If you or someone you know might benefit from a reverse mortgage we offer you
an easy way to find a reputable lender in your community who can help you
navigate a clear path to a responsible Reverse Mortgage. You can click on the
state, city or county to find a reverse mortgage lender. You can also search by
zip code on the top. Or you can fill out this form:
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to fill out a simple form to connect to
Reverse Mortgage Lenders in your
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Why Reverse Mortgage?
There are many reasons for taking out a reverse mortgage. Here are a few:
1. Mortgage Pay Off – Seniors who wish to pay off their mortgages
2. Health Care – Seniors who need money for health care purposes
3. Retirement – Seniors who want greater enjoyment of their retirement
4. Lifestyle – Seniors who would like to maintain their lifestyle in
retirement
5. Early Inheritance – Seniors who want to see their children benefit
Because reverse mortgages are considered loan advances and not income, the
IRS considers them to be not taxable. Similarly, having a reverse mortgage
should not affect your Social Security or Medicare benefits. But, you must be
careful not to let your total liquid assets become greater than these programs
allow. It may be wise to consult your tax advisor on this.
Depending upon the borrower's situation, a reverse mortgage may affect
benefits one receives, if any, from the Federal Supplemental Security Income
(SSI) program, or state-administered programs like Medicaid. If you receive SSI,
Medicaid, or other public assistance, your reverse mortgage loan advances are
only counted as "liquid assets" if you keep them in an account past the end of
the calendar month in which you receive them. Please speak with your financial
advisor and appropriate governmental agencies.