If you’re a homeowner who’s over 62 years of age, you might consider applying for a reverse mortgage to help pay expenses. A reverse mortgage can help you supplement your retirement income to pay for things such as home repairs and medical care. Guidewell Financial’s experienced counselors can help you decide if a reverse mortgage is right for you.
To qualify for a reverse mortgage, you must:
- Be age 62 or older
- Live in your home for the majority of the year
There is a $125.00 fee for the reverse mortgage counseling session and a $25.00 deposit for scheduling an appointment. The deposit will be applied toward the counseling fee at the time of your appointment. Please note, the fee may be waived if your income is 150 percent of the federal poverty level or if a hardship prevents you from paying. Counseling is provided for eligible borrows in every state except Massachusetts and South Carolina.
For more information, or to schedule a reverse mortgage counseling session, call 1-866-731-8486.