The Answer To Financial Freedom For The Retired
We don't know who thought of it first, but it's a brilliant idea if you are in need of a little financial oomph - reverse your mortgage for cash. For the retired, reverse mortgages can be an ideal solution if you need to raise funds for home improvements, travel, medical expenses and more.
The aged pension can no longer be relied on to provide the level of income required, superannuation and investments are fluctuating and often losing their value, and governments are increasingly passing on the onus to individuals to fund their own retirement. After a life of hard work, maintaining your lifestyle of choice is becoming increasingly difficult for many.
As a pensioner, you will already have realised that finance options for pensioners are thin on the ground, but that's where accessing the equity in your home or other property can be the answer.
Accessing your equity for whatever reason is referred to as a reverse mortgage home loan. Basically you borrow money on the strength of the value of your home or other investment house or property you own. You do not pay back the loan, but rather when you come to the time when you decide to sell your investment property or your own home to down grade to a smaller one, or whatever your plans may be, the total of the loan including the interest rate is then repaid.
We advise that you speak with a LCLS consultant to examine the various options available, including fixed or variable reverse mortgages, and to be sure the repayments do not add financial stress to your life.
Perhaps it's time to think beyond traditional loans. If you are retired, reverse mortgages could be the answer to your financial freedom, wants or needs.
Follow the links below for other Life Choices or click here to contact a LCLS Broker to assist you.