Linda Linfoot - Keeping You Informed
Finding Funds
Searching through old coat pockets and under the cushions of the couch may yield a bit of welcome change once in a while, but to find serious money in your home, you'll want to find out about refinancing your mortgage, or getting a reverse mortgage.
Today's interest rates are at some of the lowest levels seen in years. Let's make some time to review your current plan — it won't cost you anything to consider possible alternatives to your current financing plan, and to see if there's a way for you to save some of your hard-earned money.
Homeowners who always believed they would finance their retirement with their investments may be hesitant to liquidate their portfolios in these times. If you're at least 55 and have good equity in your home, you may instead want to hear more about reverse mortgages. A reverse mortgage is a popular choice for many retirees who are "house-rich," but "cash-poor." This type of financing allows house or condo owners to draw on the equity they've built up in their homes, while continuing to reside there.
A reverse mortgage pays the homeowner by taking a loan against the equity in the home, and does not need to be repaid until the borrower sells the home, no longer lives in the home as a primary residence, or dies.
Please call to find out more about today's low interest rates, details on reverse mortgages, and other ways to "find" money in your home.
