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Profile
A 78-year-old widow has $36,000 a year income derived from a pension,
savings and social security.
Need
She had some health problems two years ago that required her to receive
in-home health care daily. The cost is about $4,000 a month. Her savings
were almost gone and she needed more money to maintain her quality
care.
Solution
Using a Jumbo Reverse Mortgage on her home, valued at $985,000, she was able to receive a check for $380,000 tax free.
Result
Peace of mind. Now there is enough money to pay for her in-home
care for many years to come and she does not have to go into a nursing
home.
Note: The figures in the examples are approximate only and subject to change. The exact amount you qualify for is determined by the Jumbo plan selected, appraised home value limits, equity, interest rate, and age.
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