Reverse Mortgage Benefits

REVERSE MORTGAGE BENEFITS

Let’s take a look at some of the benefits of a Reverse Mortgage. We know that borrowers pursue home financing for different reasons. Many borrowers find the HECM products help them achieve their financial goals.

  • Peace of Mind
  • Eliminate monthly mortgage payments
  • Independence
  • Make Home Improvements
  • Retrofit the home
  • Afford Medical Care
  • Loan proceeds are tax-free. This is a mortgage and not income; therefore, not taxable
  • Freedom and flexibility ability to maintain and improve lifestyle
  • Travel
  • Invest in family and grandchildren
  • Freedom and flexibility

In addition to these benefits, there are market factors that have helped the product grow. In addition to the benefits of a Reverse Mortgage to seniors, Reverse Mortgages have recently grown in popularity because of the following reasons.

  • Today’s economy
  • Generational mindset
  • Majority of seniors would like to remain in their home
  • It can make life easier and more comfortable
  • Cash flow needs