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Considering a Reverse Mortgage? Here's what you need to know!

November 15, 2023 | Posted by: Angela Robinson

if you're 55 or older, a reverse mortgage can offer a way to access your home equity. However, it's crucial to weigh the pros and cons before diving in.


✅ No need to sell your home or make payments until you move out or pass away.

✅ Tax-free income from your home's equity.

✅ Use funds for anything you desire: trips, renovations, debt payments, or medical expenses.


❌ Lending criteria may limit accessibility.

❌ Interest rates are typically higher.

❌ Upfront costs include appraisal, application, and legal fees.

❌ Risk of interest compounding, reducing your equity over time.


- Explore conventional mortgage or home equity line of credit options.

- Renting can be cost-effective if maintaining your home becomes challenging.

- Discuss all options with loved ones and professionals to safeguard your equity.

Remember, it's essential to make informed decisions about your financial future, contact us for help!

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