In America, our seniors are in a crisis. Health-care costs are at all time highs, including prescription drugs and normal living costs. Some seniors are opting to skip their prescriptions to pay for groceries, others are rationing their drugs to last twice as long. If you or a loved one have taken these drastic steps, or if you have gone back to work in an attempt to afford living, you should know what thousands of seniors know.
Many seniors have started to tap into the equity they have built throughout the course of their life. Many seniors have decided to take out a reverse mortgage. You may be thinking you don't qualify or that it is a complex process. Rest assured, it is a process that will have you breathing a sigh of relief and it is far easier to qualify than most people think.
The requirements are simple and straight-forward:
You must be at least 62 years of age.
Ownership of your residence
You must have equity in your home.
Qualifying for a reverse mortgage may certainly alleviate a number of the stress factors currently in your life. Do be aware that you still must keep your home maintained. Taxes and insurance also need to be kept up to date.
Though a reverse mortgage has amazing benefits for those who qualify, it is not for everyone. A reverse mortgage is not for those who have properties in disrepair, as they are inspected to meet certain government and regulatory standards. A reverse mortgage is also not for those individuals hoping to sell or refinance their property in the next few years. - 15485
Many seniors have started to tap into the equity they have built throughout the course of their life. Many seniors have decided to take out a reverse mortgage. You may be thinking you don't qualify or that it is a complex process. Rest assured, it is a process that will have you breathing a sigh of relief and it is far easier to qualify than most people think.
The requirements are simple and straight-forward:
You must be at least 62 years of age.
Ownership of your residence
You must have equity in your home.
Qualifying for a reverse mortgage may certainly alleviate a number of the stress factors currently in your life. Do be aware that you still must keep your home maintained. Taxes and insurance also need to be kept up to date.
Though a reverse mortgage has amazing benefits for those who qualify, it is not for everyone. A reverse mortgage is not for those who have properties in disrepair, as they are inspected to meet certain government and regulatory standards. A reverse mortgage is also not for those individuals hoping to sell or refinance their property in the next few years. - 15485
About the Author:
A MN Reverse Mortgage may possibly be a financial life saver for you or someone you care about. To find out more about if a Reverse Mortgage in MN is right for you call Mike Kraus at (763) 355-8540.
