A reverse mortgage lets older adults access their home equity to help pay for healthcare expenses such as:
- Large medical bills
- In-home or long-term care
- Home modifications
- And more
Since older adults’ healthcare needs often are sudden or unexpected, a reverse mortgage can be an effective way to reduce the burden of healthcare costs, and to ensure that funding is there when they need it—as they continue to live in and own their homes. And unlike a traditional Home Equity Line of Credit, with a reverse mortgage there is a unique flexible repayment feature, which is designed to provide more financial freedom and less worries. As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance, maintenance and any homeowners association (HOA) fees.
Call today or click here to learn more about healthcare funding with a reverse mortgage.