You've Taken Care of Your Home Your Whole Life;
Let it Return the Favor.
Today, healthcare issues are a critical financial concern for many seniors. If you are a homeowner, 62 years or older, you may be able to use your reverse mortgage proceeds to cover a variety of medical and healthcare expenses.
- Home modifications
- Prescriptions
- Long-term care insurance
- Physical therapy
- Mobility and medical equipment
- Supplemental medical insurance
- In-home care
How you choose to use your proceeds is entirely up to you and a reverse mortgage allows you to choose the kind of health or personal care you desire, in the setting you prefer, your own home.
There are:
- No credit or income qualifications;
- No health qualifications;
- No monthly mortgage payments;
- You live in and retain title to your home, as long as you continue to pay taxes and insurance.
Testimonial:
Cindy and Tom's mother was paying an $800 mortgage payment. Due to the number of medications she required monthly, she was struggling. The reverse mortgage solved that problem by eliminating her mortgage payment. "Our mother's reverse mortgage was like giving her an $800 raise each month. Something my brother and I couldn't afford to do on a regular basis. Now she is able to afford all her medicines and still put some money into savings each month. My brother and I can relax knowing that mom is financially secure and still in her own home."
When it comes to understanding Reverse Mortgages, we have the answers and backing you can trust from our controlling shareholder, Guggenheim Partners. With our extensive industry experience, innovative products and outstanding customer service, we'll help you understand if a reverse mortgage could be your best option.
Rest assured, your reverse mortgage proceeds generally do not affect your federal benefits such as Social Security or Medicare. However, if you receive SSI, Medicaid, or other state benefits, these loan advances are counted as "liquid assets" if you keep them in an account past the end of the calendar month in which you receive them. If you do, you could lose your eligibility for these programs if your total liquid assets (for example, money you have in savings and checking accounts) are greater than these programs allow. To be sure, contact your local area Agency on Aging or other state agencies.
View other Generation Mortgage customers discuss their reverse mortgage experience.
For your free healthcare brochure, click here.
