For many people over 60, the majority of their wealth is tied up in residential property – and in some cases, they might be carrying mortgage debt into retirement.
A Reverse Mortgage can unlock equity in your home to consolidate debt to free up cash flow, remove stress and provide peace of mind. Additional funds can be released to help fund your lifestyle in retirement and be used for any worthwhile purpose including home improvements, day-to-day expenses, buy a new car, medical costs or for travel and holidays. As well as an initial advance, funds can also be drawn as a regular advance.
One of the good things about a reverse mortgage is you can continue to live in your home for as long as you wish while enjoying the benefits of the community, social networks and family memories it provides. You remain the owner of your home, benefitting from any potential increase in property value.
If you think a reverse mortgage might be something you would be interested in, contact Allen at iShare Brokers today on 0478908007.