Retirement is often the perfect time for travel, and a reverse mortgage can help you reach your travel dreams.<\/p>\n
Sound too good to be true?<\/p>\n
Whether you want to take a dream vacation with your family, or hit the seas or road for an extended time, reverse mortgages are exactly like a regular mortgage – you can use the funds for whatever you like.<\/p>\n
Your heirs or charity will still receive your home if that’s your intent. It will simply have a low, easy-to-pay off mortgage that’s due upon sale, or must be refinanced into a new conventional mortgage (or home equity line) if your heirs intend to keep the home.<\/p>\n
Boat and RV financing is often at higher rates, and requires a monthly payment. Furthermore, Boat & RV financing may carry additional burdens relating to insurance or destinations you can visit if sailing internationally.<\/p>\n
By rebalancing equity from one’s primary residence into a reverse mortgage, one can get the best of all worlds – zero monthly payment, tax benefits (accrued interest against a primary residence), and if you choose, a lump sum that can be used for travel, in-home medical help, RVs or boats – whatever you choose.<\/p>\n
In the case of boat and RV financing, you’ll have a new asset on the books, and this is really a case of shuffling money (equity) from one pocket to another – while helping you enjoy your retirement.<\/p>\n
We’d like to help you! Why not request a quote, and we’ll give you some risk-free options to consider? Just fill out the form on the right and we’ll get right back to you. There’s no pressure – just a friendly chat and options to think about.<\/p>\n