Today’s reverse mortgage is a safe and secure tool that seniors are accessing in greater numbers as a component of retirement planning and financial independence. A reverse mortgage works by allowing homeowners age 62 and older to borrow from their home's equity without having to make monthly mortgage payments. As the borrower, you may choose to take funds in a lump sum, line of credit or via structured monthly payments. Every potential borrower will be given a spreadsheet with their options and will be required to take a course on the specifics of their loan scenario. These loans are sometimes the best options for seniors that have equity but not necessarily the income anymore.
These loans need to be handled with great care and sensibility. Our seniors are a protected class and making sure they and their families know what they are getting into is very important. We offer Reverse Mortgages at Metro Fund and will offer our clients the required courses and information to make informed decisions.
For more information, please contact us.