A Reverse Mortgage can help you maintain your financial independence or improve your quality of life. You can live in comfort and keep your dignity without becoming a burden to others.

It allows you to remain in your own home while keeping title to your property. You can stay in the community where you have friends, neighbors and doctors you know and trust.

The money you receive is tax-free. It does not affect Social Security or Medicare. With the credit line option you only use the money when you need it and the amount available grows each year.

Unlike a regular mortgage, you make no monthly payments with a reverse mortgage.

Normally, the loan is paid off with some of the proceeds from the sale of the house. All remaining equity belongs to the homeowner or designated heirs.

Your income is not a consideration in obtaining the loan since there are no monthly payments. There are no credit requirements. Existing debts can be paid off with the cash option. It may be possible to pay off an existing mortgage or “convert” it to a reverse mortgage thereby eliminating monthly mortgage payments. This is an option that many people find attractive.