As we age, our homes become more than just a place to lay our head. They are places that hold your life, including all of those cherished memories, and if you want to continue living there after your retirement, you are certainly not alone. Many seniors are looking for ways to retire in place, and with the current economic landscape, some are finding this to be a more difficult task than they first thought. You have options that are designed to help retirees in this situation, however.
If you are ready to explore your financial possibilities, talk with our team at Family Home Loan Texas in Frisco, TX about the advantages of HECM loans. These are simple non-recourse loans that help you to convert your existing home’s equity into cash that you can use how you see fit, and they are the most popular form of reverse mortgage available in the United States. HECM loans are backed by the Federal Housing Administration, giving you an added level of security in your reverse mortgage. To find out more about how converting home equity can boost a retirement account, give us a call today!
What Is Retiring In Place, And Is It Right For Me?
Life does not end once you finish your career, and so it is important to plan for your time afterward. Retiring in place refers to the idea of staying in your own home after you decide to stop working, and this is a popular concept for older individuals these days. People want to live comfortably and independently, and if you have spent years (if not decades) in your current home, staying where you are can bring notable benefits to your retirement. Unfortunately, the current economic status of our country has made this a struggle for many Americans, as skyrocketing home valuations are impacting Texas property taxes at an unprecedented level.
HECM Loans Provide A Resource To Help Seniors Retire In Place
When looking at your possibilities in retiring in place, talk to your financial advisor about whether a HECM loan is the right solution. These are non-recourse loans that help you to convert your existing home equity into cash that you can use how you’d like, and the proceeds can be used for a number of purposes. Some retirees are taking advantage of these loans in order to make necessary home modifications or to pay off their current home mortgage.
Find Out More With Family Home Loan Texas
Are you ready to discuss your financial options? To learn more about how HECM loan reverse mortgages are helping seniors stay comfortable by retiring in place, give us a call at FHL Texas in Frisco, TX at (214) 447-7575 today!
