Use of Funds : Reverse Mortgage

How can you use the proceeds from a reverse mortgage?

Any way you want!!!

If you get lump sum, you get the total amount three days after you close the loan. It is a check or direct deposit. Once it is in your hands, or checking account, it is yours to do whatever you want.

If you get term or tenure payments on a monthly basis, you get a check each month. Once it is in your hands, or checking account, it is yours to do whatever you want.

If you take a line of credit, the funds are available to you and are deposited within 5 business days of your request to the bank. You can request whatever amount you want, whenever you want, up to the total limit of the line of credit. Once it is in your hands, or checking account, it is yours to do whatever you want.

Any questions?

Bob Fisher

bob@az62.com

714-331-1486

or

623-214-6663