Now there’s another way to help cover the rising cost of healthcare and in-home care.
While Medicare covers some healthcare expenses, older Americans are still spending significant out-of-pocket money on supplemental health insurance premiums, long-term-care insurance, home healthcare and non-medical in-home care. A reverse mortgage allows homeowners age 62 and older to borrow against their home equity in order to access a new source of funds, while they continue to live in and own their homes. It can help them afford the care they need, without having to draw upon savings or other investments.
Non-medical in-home care
To learn more about solutions that could help the older adults you care for to pay for healthcare, in-home care, and/or home modifications that can help them be safer and more comfortable, please call me today.
84% of professionals who work closely with older adults rank “not having enough disposable income” as a top financial concern they have for older adults.
Source: The 2015 United States of Aging Survey: National Findings, conducted by the National Association of Area Agency on Aging (n4a), the National Council on Aging (NCOA) and UnitedHealthcare. Professionals include staff from the Area Agencies on Aging, credit union managers, primary care physicians and pharmacists.
I welcome your questions.
Feel free to call 208-660-2898, or send me your questions by email using the form below.
Branch NMLS # 1459467
32770 North 14th Avenue Spirit Lake, ID 83869
† This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.
* RMF currently does not solicit or originate in Spanish
RMF is a Licensed Mortgage Banker in the State of New York, but this loan originator and site are not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.
Loan Originator is engaged in loan origination activities on behalf of RMF and does not function independently as a Mortgage Banker.
For California consumers: For information about our privacy practices, please visit https://www.reversefunding.com/privacy.
Not all products and options are available in all states. Terms subject to change without notice. Certain conditions and fees apply. This is not a loan commitment. All loans subject to approval.
Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act; Loans made or arranged pursuant to a California Financing Law license. For California consumers: For information about our privacy practices, please visit https://www.reversefunding.com/privacy.
Charges such as an origination fee, mortgage insurance premiums, closing costs and/or servicing fees, if applicable, may be assessed and will be added to the loan balance. As long as you comply with the terms of the loan, you retain title until you sell or transfer the property, and, therefore, you are responsible for paying property taxes, insurance and maintenance. Failing to pay these amounts may cause the loan to become immediately due and/or subject the property to a tax lien, other encumbrance or foreclosure. The loan balance grows over time, and interest is added to that balance. Interest on a reverse mortgage is not deductible from your income tax until you repay all or part of the interest on the loan. Although the loan is non-recourse, at the maturity of the loan, the lender will have a claim against your property and you or your heirs may need to sell the property in order to repay the loan, or use other assets to repay the loan in order to retain the property.