USE A REVERSE MORTGAGE TO PURCHASE YOUR NEXT HOME
Just like a standard reverse mortgage you can access a certain portion of the home's value based on your age. That money is used towards the purchase of the home and you bring the difference to the table.
Benefits
- No mortgage payment as long as you live in the home
- Increase your buying power
- Title of the home is in your name
- Heirs are protected from any underwater debt
- The older you are the more you can borrower
- Great for downsizing, relocating, and buying a home for retirement