Welcome to Smuggle Me

I don’t know how many senior retirees know about Reverse Mortgages, but I have a feeling that a lot more of them should learn about them soon. There life would be so much better.

Here’s a little bit more about what a Reverse Mortgages is and isn’t:

First, what a reverse mortgage is NOT:

* A reverse mortgage is not “a way for the bank to get your house”
* It is not a traditional home equity loan
* It is not based on income or credit levels
* It is not available to homeowners under the age of 62
* It is not free money
* It is not a cure-all
* It is not a decision to be taken lightly

A Reverse Mortgage is a wonderful tool for homeowners 62 years of age and older to obtain cash from the equity in their home. The homeowner continues to live in the house while using the money in virtually any way he or she chooses.

You do have to be cautious in doing anything like a mortgage, but a reverse mortgage is one of the most fantastic ways to gain access to the equity stored in your home.

Someone I really respected told me that your house doesn’t make you any money until you sell it. I still love that principle, but it’s not completely true. A reverse mortgage can give you back some money even before you sell your house.