|
Available in Rhode Island,
Connecticut, Massachusetts and Florida
Attain the financial freedom you deserve with a Reverse
Mortgage. We realize that it continues to get more and more difficult
for seniors to afford their retirement years. Your
fixed income does not grow as quickly as your prescription
drugs, health care costs and property taxes, to name
a few, continue to increase. With a Reverse Mortgage
you can have peace of mind and extra cash to help
you financially enjoy your Golden Years.
Ann
Rossi, 71, of Coventry recently got a Reverse Mortgage
to have fun! She fortunately gets by fine with her
pension and social security but never really had that
"extra cash" to take vacations. All that
has changed. She just returned from a family reunion
in Italy, which she has not been able to do in a very
long time and even brought back two bottles of her
uncle's famous homemade wine to share with her family
and friends. Not to mention she has a cruise planned
for this summer to Bermuda with other retiree friends.
Now
that is enjoying your Golden Years!
With
a Reverse Mortgage we were able to give Ann a line
of credit that she can access at anytime. It also
gives her the security to know that extra TAX-FREE
cash is readily available for emergencies too - a
leaky roof or new boiler.
Ann'
states, "We worked hard all of our lives and
now that we have the flexibility and time to do the
things we want to, we usually don't have the money.
But with a Reverse Mortgage you can have the money!
And the best part about this program is you do not
make monthly mortgage payments - the bank actually
pays you! "
To
determine what you would be eligible for is just a
phone call away. We can run numbers over the phone
with you. There is no obligation on your part, just
information to help you decide if a Reverse Mortgage
is right for you.
The
amount you are eligible for depends upon your age,
interest rate and equity in your home, based on an
appraisal. You may receive your money in the following
ways:
- Monthly Payment:
You may receive fixed monthly payments to the age
100 or for a fixed term.
- Line of Credit:
You make withdrawals when you choose - in whatever
amount you choose!
- Lump Sum:
You may take all or any part of the amount you are
eligible for at the time you close.
- Combination:
You may combine any of these payment options.
There
are no income, employment or health qualifications.
To
be eligible for a reverse mortgage:
- You must be 62 years of age
- Own and occupy your property.
Property
types include one-to-four family and condominiums.
The
loan is not due until you move out, sell or pass away.
A Reverse Mortgage is insured through the Federal
Housing Administration (FHA) which safeguards you
and your heirs. You retain ownership of your property
and your heirs will never be personally liable for
the debt or owe more than what the property is worth,
regardless of the amount due.
In Rhode Island Contact
Bill Whitty,
Reverse Mortgage Specialist at:
Bill
can meet you in the comfort of your own home to see
if a Reverse Mortgage is right for you.
|
