A reverse mortgage earns its name because instead of making payments to the lender, you receive money from the lender. It's a straightforward way to convert a portion of your hard-earned equity into tax-free cash, without needing to make monthly payments. As long as both homeowners are at least 55 years old, you may qualify for a reverse mortgage. You can utilize the funds for various purposes such as covering daily expenses, home improvements, medical costs, family assistance, vacations, or assisting a relative with a down payment - the choice is yours. Throughout the process, you'll never owe more than the home's value, and you'll retain ownership of the title. You can receive your tax-free funds either as a lump sum or periodically. There's no need for payments during the loan term; repayment occurs when you or your heirs sell the home. Additionally, issues like bad credit, outstanding taxes, or an existing mortgage can be settled with the initial advance. If you have further inquiries, feel free to contact us anytime. | 
