Still unknown to many, this brilliant retirement method is helping senior citizens across the country by eliminating their monthly mortgage payments and putting cash in their bank account through what's called a "Reverse Mortgage Loan". You can bet that your current mortgage holder might not be too thrilled about this, since they would be losing your business.
So while your mortgage holder may secretly hope you don't find out about how a Reverse Mortgage works, an innovative online tool by the American Advisors Group has been setup to educate homeowners about Reverse Mortgage loans and how much you are eligible to receive. This new retirement method has been gaining a lot of attention in 2016. If eliminating your monthly mortgage payments, generating additional retirement cash, all while being able to live in your home during your lifetime sound good to you, it's vital you act now.
A reverse mortgage is essentially a loan. You are borrowing against your home equity. You can get a lump sum amount, line of credit or get monthly checks. However, unlike traditional mortgages, with a reverse mortgage you do not have to pay back the money you have borrowed as long as you are living in the home.
Reverse Mortgages are ideal for you if:
Although a Reverse Mortgage sounds like a no-brainer, there are many things to consider when exploring this retirement method. Here are a few:
With hundreds of Reverse Mortgage lenders and brokers available, it can take consumers hours to simply contact each one separately and request a quote. The good news is that there are services that will connect you with the best lender for you. One such service is American Advisors Group, who can help you fully understand how a Reverse Mortgage works and also calculate how much money you can get with their innovative online tool.
If you would like more information on how a Reverse Mortgage works or if you'd like to calculate your loan amount you'll want to take this reverse mortgage suitbaility test. It takes about five minutes, and the service is 100% free. You have nothing to lose, except for your money problems!Select Your State: