How is a reverse mortgage different from a conventional loan?

• There are no monthly mortgage payments
• There are no income qualifications.
• Loan repayment is not due until:
  • Borrower(s) move out.
  • Borrower(s) sell the property.
  • Borrower(s) pass away.

Let's add up the benefits of a reverse mortgage.

• You get to stay in your home and retain ownership.
• You satisfy your financial needs and wants.
• You get the resources to maintain your lifestyle and financial independence.
• You can use the reverse mortgage as an
  estate-planning tool (see your tax advisor).
• Has no effect on Social Security and Medicare.
• Currently the IRS treats the monies received as
  non taxible income.