Many homeowners have found that a reverse mortgage is a great way for them to take advantage of the equity they have built up in their homes.

A reverse mortgage is different than a traditional mortgage. With a traditional mortgage you make monthly mortgage payments, but with a reverse mortgage the lenders pays you money through monthly installments or a one-time lump sum payments. The money that you recieve is dependent on your age and the value of your home.

One of the great advantages of a reverse mortgage is that you are not required to pay the loan back until the home is no longer your primary residence. Contact us for more information on when a reverse mortgage comes due. Another great feature of a reverse mortgage is you can never owe more than the value of your home. No matter what.