Reverse Mortgage Uses
A reverse mortgage makes your home’s equity work for you. Possible uses for reverse mortgage funds include:
- Supplement to your monthly income with tax-free proceeds*
- Access to cash for sudden expenses
- Eliminate your current monthly mortgage payment
- Making repairs or improvements to your home
- Purchase of a new automobile
- Pay for needed prescription drugs
- Pay for in-home health care
- Travel
- Purchase an RV or 2nd home
There are virtually no restrictions on how you can use your hard earned equity! How can improved cash-flow change your life?
According to a joint survey conducted by the U.S. Department of Housing and Urban Development (HUD) and AARP, the most common uses of a reverse mortgage are:
*Consult your tax advisor
**This advertisement is not from HUD or FHA and was not approved by the Department or Government Agency.**
For more information on Reverse Mortgages, see our Reverse Mortgage program page and contact us today!
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