Many seniors have trouble making ends meet after retirement. Often their homes are their most valuable assets, but they can't access the equity they've accrued unless they sell. If you find yourself in this position, you might face the dilemma of having to sell your home. Thankfully, the reverse mortgage offers seniors the option of remaining in their homes with no mortgage payments.
Reverse mortgages permit seniors to convert part of their home equity into tax-free incomeeven if they're still paying on the mortgage. Designed specifically for seniors, these specialized loans let you tap into your equity and use the money for any purpose. Safe and legal, these loans can never cost more than the value of the home, and the loan doesn't have to be repaid until you, or an heir, sell the home.
This straightforward, simple guide helps seniors and their loved ones understand every aspect of the reverse mortgage, including:
"As our population ages, it is critical that senior citizens are made aware of the various options available to them that will enable them to lead more fulfilling, comfortable lives. In this book, Tom Kelly clearly and concisely explains the inner workings of reverse mortgagesa viable financial option for senior homeowners."
Sarah Hulbert, National Director, Reverse Mortgage of America
"Tom Kelly breaks down a misunderstood, complex topic into a very readable, valuable work for seniors and adult children. This book not only provides one of the key tools to aging in place, but it also clearly and accurately explains the next big financial vehicle in the United States."
Dr. Richard Garrigan, author and Emeritus Professor of Finance, DePaul University
This is a very comprehensive book about reverse mortgages. Important reading for senior looking to use the equity in their home with a reverse mortgage and for the individuals... Read morePublished on May 16, 2007 by S. Tighe
The book is well reseached and written. It answered many questions I had. I was doing the research for my mother because I did not want her to be taken advantage of. Read morePublished on June 10, 2006 by John R. McMullen