Cash Available for Retired Homeowners

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Updated: 1/6/2009 6:00:18 PM

(ARA) - If you are retired and living in a home, why not use the equity you have in your house to reduce debts, pay bills or complete home improvement projects?

How to Benefit from Your Home Equity

Perhaps your house needs some fixing up, or you have some outstanding medical bills. Taking out a Home Equity Conversion Mortgage, also called a reverse mortgage, might be the perfect solution for you, allowing you to live at home, yet pay off your bills using the equity you've built up in your home.

Benefits of a Reverse Mortgage

You get to live in your home for the rest of your life or until you sell it.

If you have an existing mortgage, it is paid off.

You can receive your choice of either monthly payments from your reverse mortgage or a one-time payment or a line of credit to handle your current bills.

Your home may be the answer to your short-on-cash problems. Visit www.newretirement.com and fill out the request form to have a reverse mortgage lender contact you within one business day and calculate what you can receive through your home's equity. Copyright © 2009, ARAnet, Inc.

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