The Top 5 Benefits of a Reverse Mortgage in Eureka, CA
You’ve likely heard of the reverse mortgage by now – it’s increasing in popularity as millions of Baby Boomers hit retirement.
You may have heard good and bad things about the program – but fixate on the bad, because that’s what we do. But what if there were a lot of good things you didn’t know about the reverse mortgage in Eureka, CA?
What if you could benefit in ways you didn’t realize?
Here are the top 5 benefits of a reverse mortgage.
You can stay in your home
This is the #1 benefit. You can stay in your home even when you retire. Millions of people don’t want to leave the home they spent so much time fixing up, investing in, and raising their family in, but retirement often makes that impossible.
A reverse mortgage makes it possible. You can use the funds from your equity to keep up with the property taxes, insurance, and home maintenance without depleting your retirement funds.
You don’t have any mortgage payments
As long as you can keep up with your taxes, insurance, and home upkeep – they are your only housing expenses. You don’t have a mortgage payment or interest to pay. You’ll settle the bill when you sell the house (or your beneficiaries will when you die).
You can use the funds how you want
No one tells you how to use the funds. Whether you need money for medical bills, to get out of debt, to fix up your home, or take a dream vacation – the sky is the limit. Again, as long as you keep up with the taxes, insurance, and home upkeep, you’re free to use your equity however you want.
Proceeds don’t affect your Medicare or Social Security benefits
Most people worry about their Medicare or Social Security eligibility if they have a reverse mortgage. Since the proceeds are tax-free (you already paid taxes on the money you used to invest in the home), they typically don’t affect your eligibility for Medicare or Social Security.
You can make use of the money you worked hard to earn
You probably worked hard for many years to pay down your mortgage balance. While you could leave it as a legacy for your loved ones, some people want to make use of the funds during the golden years – using the money to enjoy life and fulfill dreams they had during the years they worked so hard.
If you haven’t thought about the possibility of a reverse mortgage in Eureka, CA yet, now is a great time. As property prices soar, it’s a great time to tap into your home’s equity and use it for what you want during retirement.
If you’d love to learn more about enjoying your home’s equity whether to fulfill your lifelong dreams, pay off debt, or supplement retirement income, download my free book by visiting www.reversemortgagelive.com.
This is a limited-time offer, so act fast to get the number one resource that will help you understand how the reverse mortgage really works.
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