Seniors who own homes have lots of options. You don’t have to sell if your cash flow is tight. Reverse mortgages can often provide too much upfront funding, although there is a use for that; CHIP Income Advantage mortgages provide seniors with a steady income that becomes a first mortgage when it matures. Hopefully your home has also appreciated and interest rates remain calm – in which case you can enjoy your home and still keep the lion’s share of your asset. Of course these options don’t account for any crisis or unplanned shifts in lifestyle that can often befall seniors and there are other options that can account for all situations. Talking to your tax lawyer, wealth manager, health professional, transition consultants and mortgage brokers are all important steps to making the right decision for you and your family.
Seniors With Homes Feeling Overwhelmed
TREVOR ‘S TO TALK REAL ESTATE
