Will I outlive my assets? Are you house rich and cash poor? Those seem to be questions that many retirees have today.
One possible solution to mitigate either of those issues could be a Reverse Mortgage.
If you are at least 62 years of age and live in your home as your primary residence and have no mortgage or a small mortgage and can pass a financial assessment test, you might qualify for either a FHA HECM (Home Equity Conversion Mortgage) or a Jumbo portfolio Reverse Mortgage. You might also qualify to purchase a home with the Reverse Mortgage for Purchase product.
Reverse Mortgage Consultant
CA DRE #01940145
Reverse Mortgage Educators, Inc.
CA DRE #01932729
This information is not from HUD or FHA and has not been approved by HUD or a government agency.
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