Retired and Looking for Additional Income?
Need to Replace Lost Investment Income?
Have Untapped Equity in Your Home?
A Reverse Mortgage May Be The Answer!
Call Us Today at (832) 286-1600
With a reverse mortgage, you can tap into the equity in your home without having to repay it……… EVER! You remain in your house as you always have, pay the annual taxes and insurance, but no monthly mortgage payment! No matter where you live in Texas; Houston, Spring, The Woodlands, Tomball, Conroe, College Station, you name it, you can take advantage of this great program.
Reverse mortgages have become increasingly popular as our Baby Boomers enter retirement. Many have homes with substantial accumulated equity which can only be tapped if their home is sold, or they take out a mortgage, which means a new mortgage payment to pay each month. With a reverse mortgage, there is no need to sell your home, no need to move away from friends and relatives, no need to make monthly mortgage payments, and your heirs will not inherit any debt. They offer an excellent vehicle for providing additional income during your retirement years, or as a strategy to rebuild your retirement next egg.
Here’s how it works:
John and Susan are 65 years old and have a home worth $150,000 on which they have a small remaining mortgage of $30,000. They make a mortgage payment each month on this remaining balance. They both receive social security checks each month and rely on the income from their investments to meet their expenses. Unfortunately, their investment income has dropped due to declining interest rates and volatility in the financial markets, so they need additional income. They elect to take out a reverse mortgage on their home which replaces their existing mortgage (so no need to make monthly mortgage payment anymore), and provides them with either a lump sum payment, or the supplemental monthly income they need. They remain in their home as long as they are able, and pay their annual property taxes and homeowners insurance.
How Can I find out more about these programs and if they are right for me?
Complete the form below and one of our mortgage counselors will contact you to discuss details of a reverse mortgage program and determine if its the best solution for you. There is no cost and no obligation. Home Loan Specialists, Inc. is a licensed Texas Mortgage Broker, is accredited by the Greater Houston Better Business Bureau, and our consultants have earned the “Lending Integrity” seal from the National Association of Mortgage Brokers.
