REVERSE MORTGAGE CAN BE YOUR ANSWER TO A PEACE OF MIND RETIREMENT
After spending years to work on family, it finally come the time to reward yourself. Reverse Mortgage
make that possible
A reverse mortgage is a type of home
loan that allows,senior of 60+ to borrow
money using the equity in their home
The loan can be taken as a lump sum,
a regular income stream, a line of
credit or a combination of these options.
You remain the owner of your house and
can stay in it for as long as you want.
You must repay the loan in full
(including interest and fees)
when you sell your home or die
or, in most cases, if you move into
- In general, the ration of borrowing increase in accordance to your age, meaning the older you get, lender is willing to borrow more.
- Under the Negative equity protection 2012,
when the reverse mortgage contract
ends or your home is sold, the lender
will receive the proceeds of the sale
and you cannot be held liable for any
debt in excess