Allow a HECM to help you travel and visit family.

A reverse mortgage can be a great way to supplement your retirement income, allowing you to travel and visit family more often. With a reverse mortgage, the homeowner borrows against the value of their home without having to make any monthly payments. The loan is repaid when the borrower passes away or permanently moves from their home.

Reverse mortgages are available to homeowners aged 62 and older who have enough equity built up in their home. To qualify, the homeowner must meet certain eligibility criteria including having no delinquent federal debts, participating in a counseling session with an approved counselor, and living in the property as their primary residence.

The loan proceeds can be used for whatever you choose, including traveling and visiting family. You can receive the loan proceeds as a lump sum, monthly payments, line of credit or some combination of payment types.

Before taking out a reverse mortgage, it’s important to understand all of the costs associated with the loan and how it might affect your estate plan. Be sure to contact 5280 Loans to help you decide if a reverse mortgage is right for you.

Visit our Reverse Mortgage (HECM) page for  more information.  https://www.5280loans.com/reverse/

Email: info@5280loans.com

Phone: 833.5280.LOANS