I have been helping seniors remain independent by using a Reverse Mortgage since 2002. During that time I have personally achieved the goal of increasing the quality of life for over 1000 seniors with a Reverse Mortgage. A Reverse Mortgage is a Home Equity Loan for seniors, age 62 and older, who wish to tap into the equity in their homes and use the money to pay off an existing mortgage, pay bills and expenses, invest or create a stream of tax free income. There are no restrictions on how the money can be used from a Reverse Mortgage.The most important feature of a Reverse Mortgage is that there is no required monthly repayment to the lender. In addition, these loans are usually Government Insured, non-recourse loans that present no liability to the individual for repayment. The Reverse Mortgage is usually repaid through the sale of the home when the homeowner is done using the property as a primary residence. The homeowner and his heirs retain all of the remaining equity in the property at the time of sale. There is no shared appreciation or ownership stake by the lender or HUD with a reverse mortgage. The borrower will remain on title throughout the entire process and will never lose ownership of the home.Due to high regulation and the backing of HUD, a Reverse Mortgage is a safe, secure alternative for seniors who wish to stay in their homes indefinitely, while using a portion of the home's value as liquid cash to help increase their standard of living or to complete financial planning objectives.The industry is changing rapidly now that a Reverse Mortgage has become a viable option for borrowers and lenders and it looks like they are here to stay. One of the new products we have seen in recent months is; Reverse Mortgage for home purchase loans. For more information please contact me at 619-900-4423.

www.ReverseMortgageConcepts.com provides up-to-date news articles about the reverse mortgage industry. Veteran reverse mortgage specialist, Michael Manfredi is the author of Reverse Mortgage Concepts.

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