SENIOR HOMEOWNER ARE BEING HELPED BY REVERSE MORTGAGES

There are many reasons for wanting or needing a reverse mortgage as there are people who are thinking about getting a reverse mortgage. Some of the more popular reasons are: to pay off debt, or help with everyday expenses, to make needed home repairs to have the money to do something you could not otherwise do.
Because of the different reasons for wanting a reverse mortgage, there are a number of ways a senior homeowner can receive the money; in a lump sum, in monthly payments. Does NOT affect social Security or Medicare benefits, you retain title to your home, the money is tax free and it stops foreclosure. A great advantage to a reverse mortgage is that the homeowner is guaranteed by the FHA that there is no repayment as long as they live in their home. As there are no income or credit requirements, the primary qualification is that the homeowner be 62 years old and has approximately 50% or more equity in their home.
You may not need a reverse mortgage, but they do need to know about them so they can make an informed decision.

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