REVERSE MORTGAGE APPROVALS

Owning a home can be both an asset and a burden. If you are over 62, you can use your home to help supplement your retirment income. Using the value of your home, or "equity", you can take out a remarkable new kind of mortgage- a Reverse Mortgage- that can be set up to PAY YOU every month. If you owe little or nothing on your home, a reverse mortgage could be right for you.


"When I retired, our 401k ran out. I needed something more than social

security to pay the bills. That's when I found out about Reverse Mortgages.

I get $1398.00 a month, just from my home's value."

YOU CAN QUALIFY- FAST!
You can get a Reverse Mortgage too. The minimum age to qualify is 62. You must own your home, and have a small or no mortgage on it. There are several other important factors:

1. You must have good credit. (if your credit is poor, you can get it fixed fast- click here).

2. You must be over 62 years of age.

3. Your home must pass a basic appraisal (a determination of its value).

There are several drawbacks to a Reverse Mortgage that you must be aware of:

1. Your home will have a lien on it- the new mortgage will be held by a bank, and your home will no longer be "free and clear". When you sell your home, the bank gets paid back the mortgage first.
2. The money does not last forever. The monthly payments only last for a set period of time: 5, 10, or 15 years, for example.
3. The bigger the payments, and the longer the term of payments, the less equity you own in your home. Over time, you are trading equity to the bank in the form of monthly payments.

A Reverse Mortgage could be a great option for you!

If you have other loan needs, such as auto loans, cash advances, or debt consolidation, go to www.ninja-finance.info