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You may be retired, but you haven’t stopped working. Now that you’ve said goodbye to the 40-plus hour workweek, you occupy your time with hobbies, possibly some consulting work, and researching investment strategies.
It’s a challenge for financial planners and retirees alike to figure out how to generate a steady stream of income while adhering to withdrawal guidelines. And many retirees of a certain net worth may not want to cut expenses or downsize their homes once they’ve stopped working.
As the over-60 crowd considers ways to make the most of their retirement savings, they often overlook one underused but highly beneficial tool—the reverse mortgage.
If you own multiple properties, you can easily make that equity work for you. Use the proceeds from a reverse mortgage as a line of credit or as monthly payments. While you receive reverse mortgage proceeds, you won’t have to touch your investments. Watch your portfolio grow and access a smaller percentage of it later.
An FAR licensed Reverse Mortgage Specialist can help you understand how to make the most of your hard-earned nest egg.
“During the course of undertaking the reverse mortgage process, my wife and I found Finance of America Reverse to be most trustworthy, honest and able to deliver the final package. We could not have asked for a more representative person to provide us all the information in the process than (our loan officer). (She) is a very knowledgeable, patient, and courteous person. Above all, she conducted herself very professionally, a true professional. If she did not know the answer at the time, she would research and get back with you immediately. Communication and cooperation were never lacking through the whole process, this was very important to both my wife and I. During the closing process, we dealt with several different persons from the Finance of America Reverse (team) and we can honestly say that none failed us. Service was their number one objective. My wife and I would not hesitate to recommend (our loan officer) and (Finance of America Reverse). In our case, they were truly a GREAT TEAM.”
George and Gracie, Lyford, TX
My Reverse Mortgage Specialist “worked with me and was very professional throughout the whole process…she was very kind and respectful…Even though I have never seen her, I feel like she was someone I have known my whole life.”
Janice, Florence, AL
“I did my reverse mortgage in 2013 and it was one of the best decisions I’ve taken since I retired. Now I have additional income every month and the peace of mind that I won’t outlive my retirement income. (My FAR loan officer) was incredibly helpful and made the entire process extremely clear and simple.”
Nancy, Los Angeles, CA