Reverse Mortgage Information, Benefits, Guidelines, and more...

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Reverse Mortgage Information for Senior Citizens

You're a part of the largest generation in American history, and as more of you settle into retirement, planning and funding for these years is important. Wisdom Financial Services' mission is to educate and assist senior homeowners about retirement planning and the financial benefits of Reverse Mortgage programs.

A Reverse Mortgage is a loan that allows homeowners, age 62 and older, to access the equity in their home without making any monthly payments. The loan can be received in the form of a lump sum, monthly payment, line of credit or a combination of the three, and repayment is deferred until you no longer reside in your home.


Enjoy Life Without Worrying – Security For You and Your Family

A reverse mortgage loan allows you to stop paying on your mortgage and receive payment(s), as long as you live in your home, allowing you financial freedom and peace of mind. Travel, make home improvements you've wanted for so long, or spend it however you want to. You've worked hard to provide for your family your whole life, now let your home provide for you through a reverse mortgage!

Take a moment and look at some of the benefits and comparisons of reverse mortgage loans and see how you and your family can benefit from all your hard work and years of faithfully paying on your home, it's that easy!


Benefits of a Reverse Mortgage
  • Greater financial security through a federally insured loan
  • No monthly repayments
  • No changes to your Social Security and Medicare benefits
  • Tax-free proceeds that can be used for any purpose
  • Reverse mortgage qualification based on age and home value-not income or credit
  • No Pre-Payment Penalty
With the help of reverse mortgage loans, individuals across the country are living a better lifestyle.


Am I eligible for a reverse mortgage?

To qualify for a reverse mortgage, you must:
  • Be at least 62 years old. In the case of a couple or co-owners, both must be 62 if their names appear on the title of the home. If one spouse or co-owner is under 62, that person's name must be removed from the title so that the other person can qualify for the reverse mortgage.
  • Be a homeowner with equity in your home. You may qualify for a reverse mortgage even if you have an outstanding balance on your first mortgage. Single-family homes and qualified condominiums, townhouses, manufactured homes, and 1 to 4 family owner occupied residences are eligible. Reverse mortgage loans are available only for homes occupied by owners as a principal residence.
Click Here for a List of Commonly Asked Reverse Mortgage Questions

Click Here to Learn About Using a Reverse Mortgage for Healthcare

Click Here for Our Reverse Mortgage Planning Guide: Using Your Home to Stay at Home