Residential Home Loans, Reverse Mortgage, Refinancing, New Home Financing, Royal Mortgage Services, Inc. in the Redding PA area

ATTENTION: SENIORS – ARE YOU SITTING ON A POT OF GOLD?

If you are at least 62 years old and own your own home, you can boost your income with a Reverse Annuity Mortgage. Soaring home prices have provided many home owners with a large equity wedge between what they owe on their home and the current market value. The Reverse Mortgage turns the equity in a house or condominium into tax free income while allowing the home owners to live there for as long as they want. The money can be paid in a lump sum, monthly installments or a line of credit.

The Reverse Mortgage is paid back when the home owner sells the property or following the homeowner’s death, which ever occurs first. After the homeowner’s death their heirs can either pay off the loan and keep the house or sell it to satisfy the debt.

Reverse Mortgages are most useful for people with lots of equity but little income. The money can be spent any way you wish – living expenses, medical bills, even travel. Call Jeanne at Royal Mortgage for more information. 215-886-6677.