It’s shocking to think that Bankruptcy rates among seniors have exploded by 1747% in 2012 over 2011 according to a report by the Vanier Institute (a non profit ). But it’s true! Click here for Full Article
People have worked all their lives and now find that the high cost of living and going into retirement with an existing mortgage is more than they can handle.
Most people don’t know where to turn if they get behind in their payments. More times than not there is no extra income stream to pay the debts. Using savings to clear the debt may even compromise a senior’s future more.
However a Reverse Mortgage can be an option. You do not qualify based on income or credit rating. You can get the money within a month. The best part is you will NEVER make a payment.
You must have equity in your home and be over 55 years of age to qualify, so if you find yourself drowning in debt, call us to see if a Reverse Mortgage might work for you.
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