Reverse mortgages are a fantastic financial tool which help you tap the equity in your home. If you wish, you can have a monthly check issued to you for the rest of your life even if the payments exceed the value of your home.

There are 3 criteria:

• Must be over 62
• The amounts are based on the equity of your home
• You must be the owner of the property

You will also have to go through a government sponsored counseling session.

These loans ARE NOT CREDIT SENSITIVE.

That's right. Even if you credit is poor. As long as the basic criteria are met, you qualify. Recent legislation has made a reverse mortgage a stronger alternative for Chicago area senior citizens. Call me to discuss your options.

I'm David, Give me a call at 630.862.6057 and let's talk about it.

Real Estate, the cornerstone of personal finance

And in the end, it's not the years in your life that count. It's the life in your years.

~ Abraham Lincoln

 

Helpful links:

Federal Trade Commission Facts for Consumers