Virginia Reverse Mortgage Information

A Virginia reverse mortgage has been used by many senior homeowners in Virginia to supplement retirement income and improve quality of life. Virginia seniors have become increasingly aware of how beneficial it can be to tap into home equity without having to take on any additional monthly mortgage debt.

Until a Virginia reverse mortgage was available, the only way to access accumulated home equity was to either sell the home to get the cash or take out a mortgage or home equity loan, which then required monthly mortgage payments. Now however, a Virginia reverse mortgage can come to the rescue of seniors 62 years and older that need extra tax-free cash that does not have to be repaid until the last homeowner leaves the home or the home is sold. As the actor, Robert Wagner famously says in the reverse mortgage TV commercial; "I know, it sounds too good to be true. But it is."

Increased Tax Free Monthly Income

That's right, this product is a godsend for many older Americans that are struggling against the high cost of real estate taxes, medical bills, utilities, home repairs, gasoline and food prices, etc. It seems like prices are rising every time we fill up the tank or go to the grocery store. So even if you thought you planned well for your retirement, you may find yourself running short on money. But many of you are sitting on a pile of money in your home. Until you were introduced to the idea of a Virginia reverse mortgage you may have thought there would be no way to afford to access that pile of money sitting in the house.

A Virginia reverse mortgage requires no income or credit verification to qualify. The proceeds are Tax-Free and will not affect your Social Security or Medicare benefits. You will still be able to leave your home to your heirs, if you wish.

The main ingredients that determine whether you will qualify for a Virginia reverse mortgage is the amount of equity that you have in your home and the age of the youngest person on the title to your home. You can use our reverse mortgage calculator to get a rough idea of how much money you might be able to receive from this type of loan.

But if you would like a more detailed summary of your personalized benefits, request your Virginia reverse mortgage quote today!.

• Link to Virginia AARP

Click Here To See If You Have Enough Equity To Qualify