The idea of retirement can kick up a number of mixed feelings and emotions but of late many of those feelings and emotions are tied to financial fear. It’s a legitimate concern, how are you going to afford retirement given the economic climate that currently exists?
For homeowners 62 years of age or older the solution can come from a reverse mortgage from Bank of Internet USA, America’s oldest and most trusted Internet bank. A reverse mortgage loan can alleviate all of those fears and put a homeowner on a more stable financial setting, allowing them to actually enjoy retirement doing what they most desire.
What’s great about a reverse mortgage loan from Bank of Internet USA is the fact it rewards the homeowner for the work they have already done. Unlike other loans a reverse mortgage isn’t based on credit scores or income but rather it’s based on the equity that has been built in their home.
Essentially a reverse mortgage is payback for carrying out the responsibilities associated with homeownership. As part of a reverse mortgage loan the homeowner maintains ownership throughout the loan and has the option of not making any loan payments while they live in the home. In addition, the homeowner can refinance or sell their home at any time as there are no penalties associated with a reverse mortgage.
To learn more about the benefits of reverse mortgages and how you can get started go to:
https://www.bankofinternet.com/bofi/Mortgage/Reverse_Mortgages.aspx