Earn Income From Your Home With A Reverse Mortgage

Are you sitting on your biggest source of cash

? If you have a home with a lot of equity, you just might be, but a reverse mortgage offers a solution to help you tap into that equity now, so you can build your cash reserves and take care of your family. CreditNowUSA is ready to help you get a reverse mortgage, so you can enjoy the money you have invested into your home now. If you are a senior and have equity in your home, consider this loan option for your financial needs.

Who Is a Good Candidate for a Reverse Mortgage?

If you own a home with a lot of equity and are 62 years of age and older, you may be a candidate for a reverse mortgage. In order to get this type of loan, you must own the property and actually live in it. You also must go through a counseling session that ensures you understand what a reverse mortgage is. Finally, your home must meet FHA guidelines and be well maintained, with taxes and insurance up to date.

How a Reverse Mortgage Works

A reverse mortgage converts your homes equity into cash, which you receive tax-free. Unlike a loan, you do not have to repay this money through monthly payments. Rather, payment is deferred until you are no longer living in the home. When the time comes to pay, the reverse mortgage must be paid in full, including all interest and closing costs.

Over time, the interest in a reverse mortgage grows, and the equity in the home shrinks, because it will be used to repay the growing bill on the loan. However, at no time will you owe more than what your house is worth when the money comes due.

That is the beauty of a reverse mortgage. You can use your greatest asset, your house, to fund your current expenses, all without leaving behind a huge debt load someday.

If you are ready to turn your home into cash for your current bills, visit CreditNowUSA.com to learn more about our reverse mortgage options. With our help, you can convert your equity into workable cash flow for whatever life is throwing your way with the help of a reverse mortgage.

For more information, go to Reverse Mortgage at http://www.creditnowusa.com/Reverse-Mortgage

by: Money Lender

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