The spring season is quickly drawing to a close, and summer is almost here! Many people look forward to summer for the sunny weather, trips to the beach, and the opportunities to get outdoors with loved ones. However, we tend to forget those who may not have the ability to truly enjoy the summer season due to the lack of finances.
A lack of finances may especially ring true for most retirees. As a Reverse Mortgage company, we have witnessed the effects that a limited income can have on a retiree with a monthly mortgage payment. The stress and burdened appearance on their faces instantly disappear when receiving the proceeds from the Reverse Mortgage. Moreover, RMA understands all too well the daily pressure that comes with staying afloat to make ends meet for a senior on a fixed income!
Fortunately, for those that qualify, the Reverse Mortgage can be a dream come true. To be eligible, one must be 62 years or older, occupy the property as his/her primary residence, and pay off any existing mortgages with the proceeds of the Reverse Mortgage. The Reverse Mortgage is a federally-insured loan, which enables senior homeowners to access a portion of their home value without having to make a monthly payment.
The Reverse Mortgage can kick off your summer by giving you the opportunity to do the following:
Take a Vacation
If you have been dreaming of a trip to Hawaii or Jamaica, the Reverse Mortgage can give you the opportunity to take a much-needed vacation. The destinations you can reach are endless, and with your monthly mortgage payment eliminated, the rest is history!
Landscape/Fix Up Your Home
Whether you’ve been putting off much-needed maintenance or you have wanted to landscape or get the backyard more presentable for grandchildren, the Reverse Mortgage does assist many of our clients with the opportunity to perform home maintenance.
Treat Your Grandchildren
We are currently in graduation season! So if you have any grandchildren or younger relatives who graduated, you may have a sincere desire to treat them to something special! One of our most recent clients used the funds from the Reverse Mortgage to pay for her granddaughter’s college tuition! Also, the Reverse Mortgage can be great to give you necessary funds to accommodate any grandchildren who will spend the summer with you!
Hire Caregivers/Personnel
If you have wished for an in-home caregiver to help you for a few hours during the week, the Reverse Mortgage can be a great tool to hire cleaning staff, professional caregivers, or even your neighborhood teenager who is willing to help for a few hours during the summer.
Pay off Debt
Debt of any kind can seem like a neverending nightmare! Whether you have medical bills, or revolving credit card debt with high balances, interest rates, and fees- the Reverse Mortgage will allow you to settle those debts! You will breathe much more relaxed with putting the money back into your pockets each month while being able to continue receiving your monthly retirement benefits.
These are only a few of the ways that you can use the money from the Reverse Mortgage this summer. Our team is local, offers free consultations, and has 25 years of expertise to assist you regardless of your financial circumstances. We love what we do, and if you want to get ready to have the summer of a lifetime, give us a call at 1-800-420-5515!