How a Reverse Mortgage Works
It’s time to spend retirement on your terms.
You’ve worked hard all your life. Now it’s time for all the love and money you’ve invested into your home to start paying you back. With a Genworth Financial Home Equity Access, Inc., you can use the funds as you want and enjoy a lifetime of independence and security at home.
What is a Reverse Mortgage?
A Reverse Mortgage is a federally insured financial tool that allows senior homeowners age 62 and older to access a portion of their home equity and convert it into tax-free retirement income. It gives you the financial security and supplemental retirement cash flow to stay at home and live independently—without having to sell your home, give up the title, or make monthly mortgage payments.
It’s called a Reverse Mortgage because unlike a forward mortgage where you make payments, a Reverse Mortgage actually pays you. Flexible and safe, you make no Reverse Mortgage payments and will maintain the title for as long as you live in your home. When the loan is due, the amount you or your loved one’s owe will not be more than the appraised value of the home. And any equity that remains in your home remains yours—not the bank’s.
If you want a lender that specializes in Reverse Mortgage loans, the Benjamin Gerritsen team is thereverse mortgage lender to go to.
He knows the reverse mortgage market better than most other bankers and loan officers in Utah.
