Sentences with phrase «old access the home equity»
A reverse mortgage, also called a home equity conversion mortgage (HECM), lets seniors who are at least 62 years old access the home equity from their primary residence in the form of a lump sum, a line of credit, a stream of monthly payments or some combination of these.
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Seniors 62 and older can apply for a reverse mortgage as a way to access the equity in their home and convert it into usable funds.
This is a home loan that allows borrowers age 62 and older to access the equity in their homes for supplemental funds.
If you are a homeowner 62 years or older and have a significant amount of equity, a reverse mortgage can provide the means to access a portion of your home's equity to help cover medical costs.
A reverse mortgage is a feasible financial vehicle that is used by plenty of older Americans to access cash from their home's equity.
The reverse mortgage is a national program available to homeowners age 62 and older providing you access your home's equity without having to make a monthly mortgage repayment.
It's a loan that allows homeowners 62 years and older to access a portion of the equity in their homes for use in retirement.
A reverse mortgage, also known as a home equity conversion loan (HECM), is a tool designed to help eligible homeowners 62 years and older to access the equity in their homes.
As a type of home loan designed for those age 62 years and older, this powerful tool can help individuals access a portion of their home equity and convert it into cash to supplement a fixed income.
The purpose for creating the HECM was to provide older home owners, mostly retirees, who are no longer earning regular salaries and spending down their savings, access to their home equity without having to increase their monthly expenses.
A reverse mortgage is a loan for homeowners age 62 and older that allows seniors to access a portion of their home's equity.
The loans are intended to help home owners 62 years of age or older access the equity in their home if they have or all or most of the mortgage paid off.
Such loans enable seniors age 62 and older to access a portion of their home equity without having to move.
Access to home equity for many homeowners 62 + years old, their home is their largest asset.