In a recent article in Reverse Mortgage Daily about how senior housing wealth has now hit $7 trillion for the first time ever, Steve Irwin, Executive Vice President of National Reverse Mortgage Lenders Association was quoted as saying,
“The RMMI (RiskSpan Reverse Mortgage Market Index) increased for the 31st consecutive quarter, there are now 23.9 million senior homeowners – the highest number ever – and these homeowners hold a record $7.05 trillion in home equity. For many retirees, a reverse mortgage offers the perfect solution to extract this home equity and put it to good use, so that they can live more financially secure lives.”
Make your senior housing wealth work for you with a standby line of credit for emergencies, monthly income or cash flow. Enjoy your retirement, without worrying about making ends meet. Do the things you have always wanted to do. Travel, see your family more, put that grandchild through college. Payoff an existing mortgage and have no more loan payments by living in your home, paying property taxes, insurance, upkeep and maintenance, and any homeowner’s association dues!