A Reverse Mortgage is a financial arrangement available to homeowners typically aged 62 and older, allowing them to convert a portion of their home equity into tax-free loan proceeds. Unlike a traditional mortgage where the homeowner makes monthly payments to the lender, in a reverse mortgage, the lender makes payments to the homeowner, either as a lump sum, monthly payments, or a line of credit. This financial tool can be beneficial for retirees seeking supplemental income, as it enables them to tap into their home's equity without the need to sell the property, providing a source of funds for living expenses, healthcare, or other financial needs in retirement. Reach out to us today to explore your options! 

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