Vinson Reverse Mortgage lets you really live your retirement years at their fullest. Many seniors use a Reverse Mortgage to supplement their social security, meet unexpected medical expenses, make home improvements and more. You have worked for your home for so many years, now it’s time your home works for you with a Vinson Reverse Mortgage.
What is a Reverse Mortgage?
A Vinson Reverse Mortgage is available to homeowners who are of the age of 62 or older. A Reverse Mortgage is based on the equity in your home and allows the homeowner to convert equity into cash. This loan does not have to be repaid until you either sell your home or permanently leave your primary residence. A Vinson Reverse Mortgage is a federally insured, private loan that gives the homeowner greater financial security.
How can I receive my money?
You receive your money in a one-lump sum payment, as monthly payments, as a line of credit or a combination of the three. There are no taxes on any of the above options as this is money you already own through the equity of your home. Also remember, you won’t be making anymore mortgage payments. This gives you the freedom to spend in other ways:
Pay off credit card debt.
Avoid home foreclosure.
Buy a second home.
Supplement Social Security.
Pay back taxes.
Make home repairs or improvements.