If you are 62 or older and own your home free and clear, or nearly debt-free, a reverse mortgage can turn the equity in your home into Tax-Free cash for any purpose and with NO REPAYMENT for as long as you live in your home.
No income or credit qualifying. Retain full ownership of your home. Does not affect your Social Security or Medicare. No debt will ever be left to your heirs. Maintain financial security and independence. Your choice of flexible-funds-distribution plans to you.
Pay off credit cards, taxes, or medical bills.
Make home repairs or improvements.
Pay for in-home care.
Take a vacation or buy a new car. Have money in savings for emergencies.
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