Is a Reverse Mortgage the Best Choice For You? It really depends on a number of factors and everyone’s situation is unique.
Use the following series of questions as an “assessment” for getting an initial sense about whether the benefits of a reverse mortgage match your personal goals & current circumstances:
- Do you currently struggle to make ends meet each month; is there less end And more month?
- Do you wish you could enjoy retirement life a little more?
- Are you worried about how you’ll pay mortgage payments, credit card payments & other debts as the years go on?
- Is the Equity in your home the most substantial Asset?
- Is your neighborhood & community an integral part of your life?
- Does the idea of selling your house, moving & downsizing seem unappealing – or painful?
- Does the idea of not having to make “Out Of Pocket” mortgage payments appeal to you?
If you answered “yes” to one or more of the questions above, then a reverse mortgage may be the right choice for you – particularly if you answered “yes” to all of them. However, there is no way to generalize – especially not when it comes to planning & living out your retirement.
The key to a happy, secure retirement is education (and fully understanding your options). And as always, the best advice is to seek advice. The “best” choice for everyone is to obtain as much qualified information as possible, and carefully weigh the options before making a decision.
The Auxilium team is here to provide you with the answers and information you need, thereby enabling you to make the decision that’s best for you and your family!