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Additional Retirement Income
Additional Retirement Income, Tax Free
If you are a senior citizen, it goes without saying that you are probably concerned with your retirement income; having enough retirement income, AND with finding additional retirement income sources. If you are about to retire, you're doing the math, as well as saving and planning. If you are retired already, you may be watching your budget, wishing you had contributed more to your 401K. If you are living on Social Security alone, you may be really pinching pennies, searching for a solution for more retirement income. In any of the above cases, retirement income sources are an important part of your financial survival. Read on for more info, or visit us at the HECM Loan Blog . We have created it to answer questions from or web visitors.
Your Retirement Income Options
At Senior Reverse Mortgage Online we specialize in providing seniors with an additional retirement income source. If you are not familiar with it already, the reverse mortgage senior homeowners to borrow equity in their home, with no loan payback. If there is an existing mortgage, it will be paid off and you will get the remaining funds. This is a unique loan product, sponsored and insured by the US Government (created by HUD and insured by the FHA.) Reverse mortgages are a safe, viable means of achieving additional retirement income. Highlights of the reverse mortgage income opportunity are listed below.
Additional Retirement Income With Reverse Mortgages
Reverse Mortgage Retirement Income Benefits
- >> The money you receive is tax free income
- >> No payments as long as you live in the home
- >> No credit or income requirements
- >> Reverse mortgages are supported by AARP
- >> Reverse mortgages are insured by the FHA
- >> You retain ownership of your home
Reverse Mortgages Retirement Income Requirements
- >>Borrowers must be Age 62 years or older
- >>Own their home and have enough equity in to qualify
- >>Occupy the home as primary residence
- >>Receive counseling by an approved HUD/FHA counselor
- >>The home must be in reasonably good repair
Reverse Mortgage Retirement Income Payment Options
- >> Lump sum disbursement
- >> Monthly payments
- >> Line of credit
- >> A combination of the Above
An Additional Retirement Income Source
A Reverse Mortgage provides safe, tax free retirement income, that DOES NOT HAVE TO BE REPAID, in your lifetime, or as long as you live in the home. This retirement income program was specifically created to afford seniors more retirement income. Let's face it, if you did not plan effectively for your retirement income, then you definitely need additional retirement income stratagies. Additional retirement income sources are available, and the reverse mortgage is an option. It provides additional tax free income, without any repayment of the loan.
Please Contact Us to learn more. We can provide you with all the information you need to make the right choice, regarding this additional retirement income source. You will also be required to seek counseling with a HUD/FHA approved counselor, so you will make sure to get all the facts. If you feel the reverse mortgage is for you, we'll send you a Reverse Mortgage Application, and walk you through each phase of the process. Getting a reverse mortgage, AND solving your retirement income worries, could not be easier.
