DENVER — CONTENT SPONSORED BY Silver Leaf Mortgage
Do you have the resources to fund your retirement? Those who are still working are trying to plan strategically and are wondering how much they need to have in their retirement accounts to live comfortably. Those who have already retired, wonder if their funds will last, as many Americans enjoy their Golden Years for longer and longer. Others, who are further into retirement, can see ahead to the year their retirement funds will be depleted.
As noted by the team at Silver Leaf Mortgage, one of Colorado’s top reverse mortgage advocates, a Reverse Mortgage can help you eliminate your traditional mortgage payments and/or access your home equity while still owning and living in your home. A Reverse Mortgage can be an ideal way to increase your spending power and financial security in retirement.
According to Senior V.P. of Silver Leaf Mortgage, Kathy Muni, there are various types of reverse mortgages, but generally speaking homeowners ages 62 and older can use reverse mortgages to access equity as a line of credit, a predetermined monthly payment, or a lump sum cash out. The loan must be repaid after the home is sold or when the last borrower or eligible spouse dies or has permanently moved out of the home.
Each individual’s circumstances are unique. The type of reverse mortgage, size and availability of the line of credit all depend on various factors. To be certain you are getting the best loan for your unique situation, check with Denver Mortgage Broker, Silver Leaf Mortgage, and talk with an experienced advisor to review your retirement plan and see how a reverse mortgage loan fits into your retirement plan.
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