Its time to educate all the Baby Boomers who are just entering the age where then can get a reverse mortgage. If you are just turning 62 and own your home, you are now in a position to make a decision on whether or not you want to be a slave to the housing market.
If you own your home, then you are just sitting on that equity. You are not having it work for you. You have a long life ahead of you and you have no control over the activity of the housing market. It may go up, it may go down, or it may do both. You lose, or gain, equity according to that market and you don't have any control over it...until now.
A reverse mortgage is not just for those Baby Boomers over 62 who need extra money now, or need help with a mortgage payment if they still have a mortgage. Its a great tool for Baby Boomers who do not need the money and own their home.
With a reverse mortgage the equity you receive from this entitlement is placed into a line of credit that grows at an interest rate 1/2% more than the interest rate of the loan. That means that over time your credit line will grow to an amount greater than the current value of the home. The higher the interest rate gets, the faster your credit line will grow!
Why do you want to be a slave to the real estate market instead of being in charge of your own homes value?
Bob
bob@az62.com
623-214-6662
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