How You Can Use the Money
A Reverse Mortgage allows you to comfortably live in your own home and handle unexpected expenses without another loan or needing to depend on others. The money you receive from a reverse mortgage is yours, and can be used for whatever you like. Here are some of the most popular uses for reverse mortgages:
- Paying off your existing mortgage
- Home repairs and improvements
- Medical expenses
- Use it for a dream vacation
- Long term health care
- Travel and Tours
- Education fee for your grandchildren
- Helping family members or loved ones financially.
- Anything you want