GET REAL – Reverse Mortgages

Let’s Get Real about…Reverse Mortgages!

I’m walking through the newest Active Adult Community in Folsom called Regency by Toll Brothers. There is a much higher concentration of reverse mortgages here than any other part of Folsom. Which makes sense because a Reverse Mortgage is a loan designed for homeowners at least 62 years old and who want to end monthly mortgage payments by utilizing the equity they’ve saved in their home.

These loans have been around for decades, but there’s a lot of misinformation out there about reverse mortgages so let me clear up the basics. In every instance, a reverse mortgage allows you to keep ownership of your home, remove a mortgage payment from your monthly budget, and the unused equity transfers to your heirs upon death.

As an experienced Mortgage Broker, I offer Reverse Mortgages & thoroughly counsel my clients and their families about the pros and cons of these mortgage programs. As is with every loan product, there always is a cost to borrowing money and we never take a one-size-fits-all approach.

A Reverse mortgage can change someone’s life. End financial stress, retire early, age gracefully, or even buy into a community like this one. Contact me to learn more about the ins and outs of Reverse Mortgages and see if one is right for you or a loved senior in your life.