A Financial Tool for Independent Living

Article submitted by America First Credit Union. Please call Irene Merritt at 801-215-3208 for a free, no-obligation consultation.

Is a Reverse Mortgage be right for you? Every year, many seniors in Utah are forced to make serious financial choices:

Should I purchase my medication or buy groceries?
Is there anything I can do to supplement my Social Security, which isn't enough to make ends meet?
What if a significant home repair becomes necessary and I don't have the resources to pay the costs?
I am too buried in debt to ever recover, or will my situation cause me to lose my family's treasured home to foreclosure?

Reverse Mortgages are oftentimes the best answers to these dilemmas for residents who are at least 62 years of age and own their homes. This federally insured program puts a great financial tool at your disposal to keep you independent, enhance your lifestyle, ensure your independence, and take foreclosure or other drastic measures out of the picture.

Although there has been some confusion about this kind of Mortgage among seniors and even their financial advisors, there are trusted institutions whose staff members are willing to sit down and discuss, one-on-one, whether it's right for you.

The benefits of a qualified Reverse Mortgage are many if you need to tap into the equity you've been earning to give yourself peace of mind. Just some of the advantages of the program are:

No monthly payments
No income or credit requirements
No repayment of the loan as long as you live in your home
No loss of homeownership

Just be certain you take the time to visit with a valued financial professional, learn all the facts available to you, and work with a lender that has significant experience in the Reverse Mortgage arena.

It's worth your while to take the necessary steps to determine whether a Reverse Mortgage is a good fit for you and your family. You just might find that it's a financial tool you can use to build a more secure and satisfying lifestyle.