When I consult with clients, I often hear "well I don't need any money now". My reply is "that's wonderful". And I do mean that sincerely. But when we dig a little deeper, concerns about a lack of savings arises, or concern if income suddenly drops (whether by death of a spouse, changes in the market, portfolio values, etc.). Unfortunately, the message seniors hear about reverse mortgages is "let your home pay you" or "what would you with this lump-sum?" These are viable options. But if you do not need money now, the best option may be a reverse mortgage line of credit. The line is always accessible; disbursements are tax-free; there are no monthly payments; the line grows about 4% a year, and can not be frozen or decreased as with a traditional LOC. This option is especially useful for seniors who have minimal savings.
How much can you qualify for? Visit: www.topflitereverse.com/florian to find out.
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