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outcome.
All things considered, it’s not surprising that more than a million homeowners have already used a government-insured Home Equity Conversion Mortgage (HECM) loan to turn their home equity into extra cash for retirement.
It’s a fact: no monthly mortgage payments are required with a government-insured HECM loan; however the borrowers are still responsible for paying for the maintenance of their home, property taxes, homeowner’s insurance and, if required, their HOA fees.
Today, HECM loans are simply an effective way for homeowners 62 and older to get the extra cash they need to enjoy retirement. Although today’s HECM loans have been improved to provide even greater financial protection for homeowners, there are still many misconceptions.
For example, a lot of people used for almost any purpose. Other common uses include making home improvements, paying off medical bills or helping other family members. Some people simply need the extra cash for everyday expenses while others are now using it as a safety net for financial emergencies.
If you’re a homeowner age 62 or older, you owe it to yourself to learn more so that you can make the best decision - for your financial future. It’s time to reverse your thinking We’re here and ready to help. Homeowners who are interested in learning more can request a FREE Reverse Mortgage Information Kit and DVD by calling toll-free at
800-840-5336