Profile
An 81-year-old man was getting by with an income of $2,800 a month.

Need
Maintenance work was needed on his home — a new roof and overdue renovations.

Solution
Using a Jumbo Reverse Mortgage on his home, he was able to set up a credit line for $607,000. He chose to receive a $100,000 draw and to start receiving a check for $2,000 tax free each month for as long as he lives in his home.

Result
He was able to get a new roof and the needed renovations done which increased the value of his home. He also bought a new car and now has the money to travel and have more fun.

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.