Get cash out or pay off debt and make no payments

  • For as long as you live in the home or keep the loan
  • Lasts as long as one homeowner remains
  • Lender cannot require any payments with minimal homeowner obligations

Complete security

  • With minimal requirements, the lender can never take your home
  • No change to the title – lender receives only a mortgage lien
  • The extra money may help you to maintain your independence and security

You Remain in Control

  • You decide how much equity you will use or leave to your heirs
  • You control how much, or how little, money you take out of your equity
  • Leave the vast majority or very little of your equity
  • Conservative lending limits generally prevent you from using all of your home equity

Safety and Fairness

  • Government designed, highly regulated, and extensively disclosed mortgage program
  • Independent counseling is always required before the loan process is complete
  • Fair and reasonable business transaction – lender is repaid only what it is owed

Reverse Mortgage Advantages -PA Reverse Mortgage Programs