CONSOLIDATE DEBT AND FREE UP FUNDS

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You’ve spent a lifetime saving so that you could afford to spend your retirement years the way you want. And if you’re like most Americans, you’re probably tired of making monthly credit card and loan payments. With a reverse mortgage, specifically designed for homeowners age 62+, you can access the equity in your home to substantially reduce your monthly loan payments.

REPAYMENT OPTIONS

Pay as much or as little as you like each month toward principal and interest. As with any mortgage, you must meet your loan obligations, keeping current with property related taxes, insurance and maintenance, and any homeowners association fees.

HIGH-FLEXIBILITY LOANS

Gain access to a line of credit you can tap into as needed, or a steady stream of monthly funds¹.

PROTECTION

Our loans come with non-recourse protection so you’ll never owe more than your house is worth when the loan is repaid.

IF YOU’RE STILL CARRYING DEBT, YOU’RE NOT ALONE.

On average, older Americans with debt carry $12,490 in total non-mortgage debt (such as credit cards and auto loans).² Learn how we can help you to consolidate your debts to help lighten your load.

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HOW IT WORKS

Arlene and Paul are 67 years old. They have a mortgage, balances on their credit cards, and a car loan. Each month they have to pay burdensome payments on these.

With a reverse mortgage, they can consolidate all their debt into one loan that drastically reduces their monthly payments. (As with any mortgage, they must meet their loan obligations, keeping current with property taxes, homeowners insurance, maintenance and any homeowners association fees.)

THE RESULT

  • Arlene and Paul are able to keep more money in their pocket each month.
  • They can be more financially prepared for the future.
  • They can avoid tapping into their savings and invested assets that are a source of income.

 

SEE WHAT FUNDS YOU MAY HAVE AVAILABLE

If you’re a homeowner who’s at least 62 years old, with equity in your home, you may be eligible for this financial solution.

Check Eligibility

DIANE S.
Benicia, CA

I just so happen to have a reverse mortgage. The best thing I ever did in my life.

JAMES J.
Philadelphia, PA

You get to stay in the house and that's a really good thing. Especially since you still own the house.³

RICK M.
Fairport, NY

It's a mortgage, or it's a line of credit, but with flexibility. I haven't heard yet any reason why I shouldn't pick this product.

¹ Borrowers who elect a fixed rate loan will receive a single disbursement lump sum payment. Other payment options are available only for adjustable rate mortgages.

² Rounds, Hanna, “Older Americans Are Getting Crushed by Debt, New MagnifyMoney Analysis Shows”, August 11, 2017. http:// www.magnifymoney.com/blog/retirement/senior-debt-in-america1235240335/

³ As with any mortgage, borrower must meet their loan obligations, keeping current with property taxes, homeowners insurance, maintenance and any homeowners association fees.

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