ss_blog_claim=89c5075de08a27469a4c85b7b67a5e81 Rantings Of A Woman: Securing your Retirement

Tuesday, December 16, 2008

Securing your Retirement

Sometimes even though we think we are doing all we need to secure our retirement income once the time arrives to retire there isn't enough income to make everything work. There is a program developed to help people over the age of 62 unlock the value in their home and help them by using reverse mortgages to secure income every month. The concept is quite easy to understand, you borrow against the value of your home and get a payment every month and as you are basically borrowing money from yourself you do not make any repayments as long as you live in your home. There are many Reverse Mortgage Benefits you get monthly payments, you get to tap into the value of you home when you can best enjoy it, you make no repayments until you pass away or move out of your home, and you receive counseling to ensure you understand all the details of your reverse mortgage. The process is quite simple if you meet the age requirement, 62, and own you home you may qualify for a reverser mortgage, the amount you can borrow against would be the current market value of you home minus any balance owing on your property. Going into retirement doesn't have to a be a scary experience, you've spent your lifetime building equity in your home you should be able to access it. If you are in the California area check out reverse mortgage California for more details.

No comments: