Using Your Home Equity for Long Term Care

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For many seniors the equity in their home is their largest single asset, yet it is unavailable to use unless they use a home equity loan. But a conventional loan really doesn’t free up the equity because the money has to be paid back with interest.

A reverse mortgage is a risk-free way of tapping into home equity without creating monthly payments and without requiring the money to be paid back during a person’s lifetime. Instead of making payments the cash flow is reversed and the senior receives payments from the bank. Thus the title “reverse mortgage”.

Many seniors are finding they can use a reverse mortgage to pay off an existing conventional mortgage, to create money to pay off debt, make home repairs, or for remodeling….read the entire article by going to the link below

Please go to the following URL for the entire article and previous articles: Either click on the link http://www.planforcare.org or copy and paste the following into your browser: http://www.planforcare.org

Comments

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Comments

  1. Hi,this is an excellent article,I found it on google and I love it very much,I agree with you, lots of things will be learned form your site,but I still have some questions with the last part,can you explain it for me ?I will appreciate your answer,and I will keep on watching your blog

  2. Many thanks for taking the time to explain the terminlogy towards the inexperienced persons!

  3. Hi,this is an excellent article,I found it on bing and I appreciate it very much,I agree with you, it help me a lot in decision,but I am not follw well with the last part,can you explain it for me ?I need your answer,and I will be back again!

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