If Adisha Shehani Bikini Photos own your home, are 62 years old and have a lot of equity in your home you can easily qualify for a reverse mortgage. Retirement can be tough financially, you can find yourself trying to live on a lot less money than when you were working. If this is your situation then talk to your bank about converting the equity in your home into cash.
You will no longer have to make payments to the bank or mortgage company, they will make payments to you. If that is the way you have set it up. You have the choice of taking the money in one lump sum, as a line of credit, or receiving monthly payments.
Make your retirement everything you thought it could be and talk to your lender about a reverse mortgage. You can also choose to receive monthly payments and have an amount set aside as a line of credit to use for the upkeep of the home.
The difference between this and a traditional mortgage is the loan does need to be repaid until you, as the homeowner, do not live in the home anymore. You can use the money for anything you want or need. There are no income limits to be eligible and like I said all you need to qualify is to be 62 and have plenty of equity in your home.
Other requirements are Adisha Shehani Bikini Photos must continue to live in the home as your primary residence. The money can be used to pay off the original mortgage if there are any payments left to be made. You, the homeowner, must keep taxes and insurance on the home and do normal upkeep of the home. Your single family home is not the only type of home that can qualify for this type of loan.
Photo Credits: Gihan Dassanayake Photography