What if there were a way that you could pull equity out of your property during retirement to help you pay your bills? With a reverse mortgage in Miami, you can enhance the flexibility of your finances with supplemental income straight from your home.
Convert equity in your home into cash to use for any purpose
Pay your bills, invest in other real estate, repair or upgrade your existing home, or even go on vacation. There are no restrictions on how you use the money.
You get to choose the way in which your funds are disbursed to you
In many situations, the income you receive through a reverse mortgage cannot be taxed.
You do not need to move out of your home
You can continue to enjoy all of its comforts while experiencing in the benefits of more flexible finances.
It can never be frozen, reduced or annulled
So long as you are conforming to the terms of your reverse mortgage
Note that a reverse mortgage is not free money; it is a loan like any other. That means that it must eventually be paid off. If you wish, you can pay it off yourself. Otherwise, you can wait for a maturity event such as the death of the last borrower on the loan. At that point, your heirs may decide whether to pay off the loan or sell the house.
A reverse mortgage may be the financial answer you have been looking for. Not everyone qualifies however. You will need to meet these basic requirements to pull equity from your home:
If you are ready to boost your available finances during retirement without leaving your home, you can apply for a reverse mortgage today with Lending Bankers Mortgage. We can help you figure out whether a reverse mortgage is the best fit for your situation. If we determine that you are eligible, we will walk you through the application. You are just a phone call away from a higher standard of living and greater comfort during retirement. Call (786) 220-1100 now to get started.
Lending Bankers Mortgage LLC is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.