FINANCIAL FREEDOM

Your complete guide to achieve financial freedom. Proven tips, tools and tactics for you to achieve financial freedom. Make money, save money and effectively manage your money.

Top 5 Reasons People Get Reverse Mortgages

Written by Dian Herdiana on 6:02 AM

Once you’ve done your research on reverse mortgages and gained a more complete understanding of the product, the next step is to decide if a reverse mortgage is right for your situation. If you’re eligible (a homeowner 62 years of age or older with equity in your principal residence), this may be a quick decision or one that requires a bit more consideration. As with any decision, it’s always helpful to get the perspectives and experiences of others who have faced similar situations and asked themselves the same questions. So for those other folks who have decided to get a reverse mortgage, what were their reasons? We’ve asked some of our readers and site visitors and below are the top 5 reasons people get reverse mortgages:

1.Retire in style! – Most homeowners getting close to retirement age have spent that last thirty years or more making mortgage payments; depending on where you live, this monthly obligation could be anywhere from a few hundred dollars a month to a few thousand dollars a month and beyond – phew! Every month that one big check goes out the door to the bank and leaves you with that much less cash to save, invest or spend on the items you need and want. How great is it to finally turn the tables on Main Street Bank, where they now send you a check each month? Most retirees have steady monthly costs, such as housing, medical, insurance and other necessary expenses. For non-working retirees, those expenses are managed with a fixed income from retirement accounts, pension plans, social security or other plan. The reverse mortgage allows a retiree to increase their fixed income and provide cash to do some things that they might otherwise not be able to afford to do. Typically, the personal quality of life is the number one reason people get reverse mortgages.

2.Pay hospital or medical bills – For many older Americans and retiree’s medical issues are an increasing reality in their daily lives. With the ever rising cost of healthcare, this can put tremendous demands on a fixed income. Ongoing medical treatments, prescription drug regimens, or a large one-time (possibly unforeseen) medical bill are all top reasons that people get reverse mortgages.

3.Improve or modify a home – While this may not be an expansion of the home, the early part of retirement is a great time to re-purpose your house to accommodate the way you will be living for the next ten, twenty, thirty years and on. Maybe it’s time to expand the kitchen, widen the hallways or remove some steps, or exchange the old pool in the backyard for a beautifully landscaped garden. As we get older, a top reason people get reverse mortgages is to outfit their house for their new lifestyle.

4.Dream vacation anyone? – What better time to just get away than when your working days are behind you and the weather turns a bit gloomy? Proceeds from a reverse mortgage have allowed many homeowners to take that vacation they’ve always dreamed about, but never had the time or resources to take. Bon voyage!

5.Pay off high interest rate or problematic debts – With the large amount of debt that the American consumer accumulates over a lifetime, it should be no surprise that this is a top reason people get reverse mortgages. Whether its high interest rate credit cards, a relative’s student loan debt, or even a potential foreclosure that must be dealt with, reverse mortgages can be a very effective way to get a large sum of cash to manage other debts.

These are the top 5 reasons people get reverse mortgages – once you’ve made a decision to move forward with a reverse mortgage, send us your top reasons and we’ll add them to the list!

Author Info:

Ethan Ewing: Ethan Ewing is currently President of Freedom Financial Network and http://www.Bills.com. If you would like more of Ethan’s http://www.Bills.com/sitemap/, please visit the Bills.com information on http://www.Bills.com/mortgage/

Related Posts by Categories



Widget by Hoctro | Jack Book
  1. 50 comments: Responses to “ Top 5 Reasons People Get Reverse Mortgages ”

  2. By Anonymous on 5:31 PM

    Her er hvordan jeg gjorde:

    tjene penger online
    tjene penger raskt
    tjener penger

    URL - Prøv å holde de viktigste søkeordet i nettadressen. I mitt eksempel webadressen blir. Merk at jeg har brukt den viktigste søkeordet i nettadressen.

    tjene penger online
    tjene penger på internett
    tjener penger

    Tre. Tilbakekoblinger: Dette er den viktigste faktoren for rangering. Når du prøver å rangere, bør du se dine konkurrenter backlinks først. Finn ut hvor mange backlinks de har og kvaliteten på deres tilbakekoblinger. Hvis de har mindre backlinks, så du enkelt kan slå dem. Det er så mange måter å få backlinks.

    tjene penger fort
    tjene penger på blogg
    trenger penger

    Forrige måned skrev jeg en til guide og jeg fikk god respons fra mine kunder. Guiden var på tilbakekoblinger Indeksering og jeg vist hvordan jeg klarte å få Google første siden rangering uten innhold. Blogg er fremdeles rangering og nå er den i # 5 stilling fra # 7. Interessant fremdeles er det ingen innhold. Bare en velkommen innlegg som vi får som standard ved installasjon av WordPress.


    [url=http://emanuel7powell.xanga.com/729910381/hvordan-tjene-penger-online/]Tjene Penger[/url]

  3. By Anonymous on 2:08 AM

    Hey guys [url=http://tjenepengerraskt.blogspot.com/][img]http://www.tjenepengeronline.info/tjene_penger.gif[/img][/url] I have been lurking here for some time now, and I must say that i'm grateful to finally be a part of www.blogger.com!

  4. By Anonymous on 2:13 AM

    Hmm it looks like your blog ate my first comment (it
    was extremely long) so I guess I'll just sum it up what I submitted and say, I'm thoroughly
    enjoying your blog. I too am an aspiring blog blogger but I'm still new to the whole thing. Do you have any tips for rookie blog writers? I'd definitely appreciate it.
    Here is my blog ... nfl jerseys

  5. By Anonymous on 1:21 PM

    Hmm is anyone else having problems with the images on this blog
    loading? I'm trying to figure out if its a problem on my end or if it's the
    blog. Any suggestions would be greatly appreciated.
    Here is my web blog - Wholesale nfl jerseys

  6. By Anonymous on 3:01 AM

    What i do not realize is in fact how you're no longer really a lot more neatly-favored than you may be right now. You are so intelligent. You recognize therefore considerably on the subject of this subject, produced me personally imagine it from so many numerous angles. Its like men and women aren't involved except it's one thing to accomplish with Woman gaga! Your own stuffs excellent. All the time maintain it up!

    my page: reality shows

  7. By texas mortgage loans on 1:22 AM

    This is very interesting. Your blog educated us with valuable information.

  8. By Anonymous on 2:41 PM

    Attractive portion of content. I simply stumbled upon your
    weblog and in accession capital to assert that I get in fact enjoyed account your weblog
    posts. Anyway I will be subscribing to your feeds or even I achievement you get entry to constantly fast.


    Here is my site cheap air max 90

  9. By Anonymous on 4:16 PM

    What's Happening i am new to this, I stumbled upon this I've
    found It positively helpful and it has aided me out loads.
    I am hoping to contribute & assist different customers like
    its aided me. Good job.

    Also visit my web page レイバン

  10. By Anonymous on 11:49 AM

    Incredible! This blog looks exactly like my old one!
    It's on a totally different topic but it has pretty much the same page layout and design. Wonderful choice of colors!

    Look at my web-site; クロエ財布

  11. By Anonymous on 3:10 AM

    。メルセデスベ
    ンツヘッダー排気上エッセン
    シャルオート魅力
    的な価格は、間
    違いなく競争に接続切望
    されています。実際には
    我々はあなたが熱心
    なリーズナブルな価格でコーチの財布で探しているだろうことを伝えることができunderexposed.
    Coachアウトレットです、あなたは少量のことを確認します。それが伝わるまさにプラス人員の避難
    が販売家族サイ
    ズのユニークな肉のパッ
    ケージのために設
    置典型Grawl.Michaelマイケルコース
    バッグ低コストProteinMany食
    料品店からグリップでプラス
    エスケープを捨て
    てサポートしています

    Look into my webpage - バッグ gucci

  12. By Anonymous on 4:33 AM

    。壮大な漫画の個人の開発について話
    しましたが、
    至る所でそこ調べているあなたの人々
    のように振る舞うことを、主
    に探検ポスティング
    彼らが捕獲しようとしている誰もが速やかにあなたの専門知
    識を最適化し、一般的に楽
    しいアニメーションペル
    ソナを生成に
    関して目を保つ
    ために使用され
    る期間がかかるの詳細を
    理解することから利益を得ることができる有用なヒントを選択するための利点があ
    ります。

    My web-site グッチ バッグ

  13. By Anonymous on 1:01 AM

    If some one desires expert view regarding blogging then i advise him/her to pay
    a visit this blog, Keep up the nice job.

    Also visit my web-site Replica Watches

  14. By Anonymous on 11:59 PM

    When someone writes an post he/she keeps the plan of a user in his/her mind that how a user can
    understand it. Thus that's why this piece of writing is outstdanding. Thanks!

    Look into my site - sky free to air channel frequencies

  15. By Anonymous on 9:18 PM

    保持私たちの目から過酷な明白な太陽発電。アカウント何をsearhing はで、正確何、web サイトは、にもかかわらず。

    Also visit my page: オークリーゴーグル

  16. By Anonymous on 11:21 PM

    Hi there just wanted to give you a quick heads up.
    The text in your content seem to be running off the screen in Safari.
    I'm not sure if this is a formatting issue or something to do with internet browser compatibility but I figured I'd
    post to let you know. The design look great though! Hope you get the problem solved
    soon. Many thanks

    Feel free to surf to my homepage ミュウミュウ

  17. By Anonymous on 11:21 PM

    At this moment I am going to do my breakfast, once having my breakfast coming yet again
    to read additional news.

    Look into my homepage ... ミュウミュウ

  18. By Anonymous on 4:32 AM

    What i do not understood is actually how you're now not really a lot more well-favored than you might be now. You're so intelligent.

    You recognize thus significantly in relation to this matter,
    produced me in my opinion believe it from numerous
    varied angles. Its like men and women are not fascinated except it's something to accomplish with Lady gaga! Your individual stuffs outstanding. Always handle it up!

    my site :: コーチ 店舗

  19. By Anonymous on 4:33 AM

    Heya i'm for the first time here. I came across this board and I find It truly useful & it helped me out a lot. I hope to give something back and help others like you aided me.

    Visit my web page :: コーチ

  20. By Anonymous on 2:06 PM

    My brother suggested I might like this blog.
    He was totally right. This post actually made my day.

    You can not imagine just how much time I had spent for this information!

    Thanks!

    Feel free to visit my web page - christian louboutin outlet

  21. By Anonymous on 4:12 AM

    Please let me know if you're looking for a article author for your blog. You have some really good articles and I believe I would be a good asset. If you ever want to take some of the load off, I'd
    love to write some content for your blog in exchange for
    a link back to mine. Please blast me an e-mail if
    interested. Cheers!

    Take a look at my homepage - christian louboutin shoes

  22. By Anonymous on 7:48 AM

    This design is spectacular! You most certainly know how to keep
    a reader amused. Between your wit and your videos, I was almost moved to
    start my own blog (well, almost...HaHa!) Great job.
    I really loved what you had to say, and more than
    that, how you presented it. Too cool!

    Also visit my blog post :: christian louboutin shoes

  23. By Anonymous on 4:10 AM

    Link exchange is nothing else but it is just
    placing the other person's blog link on your page at suitable place and other person will also do same for you.

    Also visit my web-site: musikrichtungen-liste.de

  24. By Anonymous on 1:57 PM

    It's hard to come by experienced people in this particular subject, however, you sound like you know what you're talking about!
    Thanks

    Also visit my site - Replica Rolex

  25. By Anonymous on 8:39 AM

    I'm extremely inspired together with your writing abilities as smartly as with the structure to your weblog. Is that this a paid subject matter or did you modify it yourself? Anyway stay up the excellent quality writing, it is rare to look a nice weblog like this one these days..

    My web blog; nike air max on sale

  26. By Anonymous on 10:19 AM

    excellent post, very informative. I'm wondering why the opposite specialists of this sector do not understand this. You must continue your writing. I am sure, you've a great readers' base already!

    My page: ルイヴィトン

  27. By Anonymous on 12:06 PM

    I have been surfing online more than 4 hours today, yet I never found any
    interesting article like yours. It is pretty worth enough for me.
    Personally, if all site owners and bloggers made
    good content as you did, the web will be a lot more useful than ever before.


    Also visit my webpage エアジョーダン

  28. By Anonymous on 3:15 PM

    Hi there, just wanted to tell you, I liked this blog
    post. It was inspiring. Keep on posting!

    my weblog - アバクロダウン

  29. By Anonymous on 3:36 PM

    I always used to study post in news papers but now as I am a user of web
    so from now I am using net for articles or reviews,
    thanks to web.

    Also visit my weblog ... nikeジョーダン

  30. By Anonymous on 8:57 PM

    It is appropriate time to make some plans for the future and it is time to be happy.

    I have read this put up and if I could I want to suggest you some attention-grabbing
    things or tips. Perhaps you could write next articles regarding this article.

    I wish to learn even more issues about it!



    Feel free to surf to my web page - nikeエアジョーダン

  31. By Anonymous on 7:47 AM

    Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point.
    You obviously know what youre talking about, why throw away your intelligence on just posting
    videos to your weblog when you could be giving us something
    informative to read?

    my page :: cheap nike air max free shipping

  32. By Anonymous on 9:22 PM

    I have fun with, cause I discovered just what I was having a look for.
    You've ended my 4 day long hunt! God Bless you man. Have a nice day. Bye

    Also visit my blog post :: oakley sunglasses

  33. By Anonymous on 6:34 AM

    Hello there, You have done a great job. I will certainly digg it and personally suggest to my friends.
    I am confident they'll be benefited from this website.

    Feel free to surf to my web blog - Rolex watches

  34. By Anonymous on 3:48 AM

    Definitely believe that that you stated. Your favorite justification seemed to be on the web the easiest factor to be mindful of.
    I say to you, I certainly get annoyed at the same time as
    other people consider concerns that they just do not recognize about.
    You managed to hit the nail upon the highest and defined out the entire thing with no need side-effects , other folks could take
    a signal. Will likely be back to get more. Thank you

    Feel free to visit my homepage; Nike Air Max 90 360http://www.magicalairmaxshoes.co.uk/nike-air-max-90-current-moire-c-13/

  35. By Anonymous on 4:09 AM

    It is the best time to make a few plans for the long run and it is time to be happy.

    I've read this publish and if I may just I wish to counsel you few attention-grabbing issues or advice. Maybe you could write next articles relating to this article. I want to read more issues approximately it!

    Here is my web blog: nike air max 90 pas cher (http://demowiki.smkb.ac.il/index.php?title=%D7%9E%D7%A9%D7%AA%D7%9E%D7%A9:CynthiaDu)

  36. By Anonymous on 4:20 AM

    My developer is trying to persuade me to move to .net from PHP.
    I have always disliked the idea because of the costs.
    But he's tryiong none the less. I've been using Movable-type
    on various websites for about a year and am nervous about switching to another platform.
    I have heard great things about blogengine.
    net. Is there a way I can import all my wordpress content into
    it? Any help would be really appreciated!

    Feel free to visit my web-site - nike air max billig

  37. By Anonymous on 4:52 AM

    I think that is among the so much important info for me.
    And i am glad reading your article. However want to commentary on
    few common issues, The site taste is great, the articles is
    in reality nice : D. Excellent activity, cheers

    My webpage ... nike air max billig (http://www.realschuhe.com/)

  38. By Anonymous on 5:00 AM

    I'm really loving the theme/design of your website. Do you ever run into any web browser compatibility issues? A couple of my blog audience have complained about my site not working correctly in Explorer but looks great in Firefox. Do you have any tips to help fix this issue?

    Stop by my page; günstige nike air max

  39. By Anonymous on 5:27 AM

    I'm gone to tell my little brother, that he should also visit this website on regular basis to obtain updated from most recent news.

    Visit my blog; Air max billig

  40. By Anonymous on 6:14 AM

    Hi, i think that i noticed you visited my blog thus i came to return the desire?
    .I'm trying to to find things to improve my web site!I assume its good enough to make use of a few of your ideas!!

    Feel free to visit my page: nike air max billig

  41. By Anonymous on 6:20 AM

    Pretty nice post. I simply stumbled upon your blog and wished to say that I've truly enjoyed surfing around your weblog posts. After all I'll be subscribing in your feed and I hope you write again very soon!


    Look at my page: Nike air max billig

  42. By Anonymous on 6:59 AM

    If some one desires expert view about running a blog then i recommend
    him/her to go to see this blog, Keep up the good work.


    my webpage Nike air max billig (http://isabelgg.blogspot.fr)

  43. By Anonymous on 7:22 AM

    Howdy! This is my first visit to your blog! We are a group of volunteers and
    starting a new initiative in a community in the same niche.
    Your blog provided us valuable information to work on.
    You have done a extraordinary job!

    Here is my blog; Nike Air Max 1

  44. By Anonymous on 7:36 AM

    Howdy! This post couldn't be written any better! Going through this article reminds me of my previous roommate! He continually kept preaching about this. I will forward this post to him. Pretty sure he will have a great read. I appreciate you for sharing!

    my webpage: gucci 財布

  45. By Anonymous on 7:39 AM

    Line-code of promising stripes soon becomes to the trademark of the .
    Regular dress consisted of the plaid button downwads shirts with easy
    slacks. The text modern conveniences ought you
    have of make extended amounts afloat acceptable? Males online fashion has really come onto its
    own in recent times. http://www.proyectoret.es/user/view.
    php?id=160730&course=1

  46. By Anonymous on 7:41 AM

    Hi there to every one, for the reason that I am in fact keen of reading this web site's post to be updated on a regular basis. It includes fastidious data.

    Here is my blog post: Nike Air Max 1

  47. By Anonymous on 8:26 AM

    Heya i'm for the first time here. I came across this board and I find It truly useful & it helped me out much. I hope to give something back and help others like you helped me.

    Feel free to surf to my blog post - nike air max pas cher

  48. By Anonymous on 10:38 AM

    Gets into something register your web page with well-known search engine listings.
    Other items include jewelry, belts, shoes not to mention coats.
    This collection is bound which can make anyone break the habit of in their tracks and admire their sheer elegance.
    Time the demonstration styles will be display (e.
    g. http://www.article-collection.info/Attractive-Indian-Party-Outfits.
    htm

  49. By Anonymous on 12:44 PM

    Having read this I believed it was rather informative.

    I appreciate you taking the time and effort to
    put this article together. I once again find myself personally spending a lot of time both reading and leaving comments.
    But so what, it was still worthwhile!

    Review my website - nike air max pas cher

  50. By Anonymous on 10:43 PM

    whoah this blog is great i really like studying your posts.
    Stay up the good work! You understand, many people are looking around for
    this info, you could aid them greatly.

    my web site: Nike air max billig

  51. By Anonymous on 2:52 AM

    Hello, Could you please get in touch with me regarding your website. Thanks.
    Bruce via bruce.cohen@bills.com

About Me

Hai! Odie is here to help YOU get in shape! Bookmark my blog now, and hoping you have a great knowledge from my blog!!

Want to subscribe?

Subscribe in a reader.