What can a reverse mortgage be used for?
After you receive the tax-free funds from your reverse mortgage, it is up
to you to use them however you please. Some retirees choose a reverse
mortgage to have peace of mind and others want to improve their quality
of life.
Common uses for reverse mortgages (AARP and HUD survey)
Gifts- 3%
Travel or something special- 14%
Daily expenses- 29%
Pay Property Taxes- 38%
Home Repair and Improvement- 50%
Reduce Burden on Children- 50%
Repay Existing Mortgage- 55%
Healthcare Costs- 67%
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment