“Use your home to stay at home” That is the title of the official reverse mortgage consumer booklet approved by the U.S. Department of Housing & Urban Development. What a powerful statement. Many seniors are residing in a home that they have lived in for many years. They know most of their neighbors and are comfortable with the neighborhood. Many have fond memories of raising their children in their home and the many holidays celebrated with family and friends. But many times, the cost of living and health issues put a burden on their finances. With only a meager savings, surviving on just social security can sometimes be very difficult if not impossible.

The reverse mortgage, in some instances, may be just the relief they need. Yes, downsizing may be an alternative, but the costs of real estate commissions, moving expenses, and the disruption of their way of live, all come with a cost. Although the reverse mortgage comes with its own costs, most of these costs are rolled into the loan. Much of the financial burden is deferred until reverse mortgage is paid off. To find out more about this fantastic FHA insured loan program, contact Rich Keana, a Reverse Mortgage Professional that will walk you through the process from beginning to end.