Arkansas Reverse Mortgages

Maintaining independence is a primary goal for many seniors. Arkansas reverse mortgages have been a big help in this regard for many older homeowners living in the Natural State.

An uncertain stock market and increasing prices of everyday goods and services have made it difficult for many of Arkansas’ elderly to meet their financial obligations.  Fortunately, Arkansas reverse mortgages have been a fantastic financial aid solution for many homeowners over the age of 62.

Before Arkansas reverse mortgages were available, the only options for folks in this situation were to sell the home or rely on assistance from adult children or government subsidy programs. By utilizing this type of mortgage alternative, older homeowners now have the freedom to maintain financial independence and remain in the homes they love.

Payment-Free Loans For Seniors

Arkansas reverse mortgages allow you to turn the equity in your home into Tax-Free cash that can be spent on anything you choose.  You are not obligated to make any mortgage payments for as long as the home is your primary residence. As Robert Wagner famously says on the Robert Wagner reverse mortgage loan commercial, “I know, it sounds too good to be true.” But, yes it is true. You never make a mortgage payment for as long as you live in your home. And the money you receive will not affect your Social Security or Medicare benefits.

Your heirs can still inherit your home. You continue to remain on the title to your home as the owner. The loan must be re-paid by either the sale of your home or by a refinance loan at the time you either pass away or permanently move out of your home. If the home is sold to satisfy the reverse mortgage balance, your heirs will receive the excess proceeds from the sale if there are any. If there is a shortfall between the amount of the loan balance and the sale price of your home, your heirs are NOT responsible for the shortfall. The FHA insurance fund makes up the difference for the lender.

To find out if you qualify, request your free Arkansas reverse mortgages quote today! You are under no obligation when you receive this information. It is offered to you as part of the educational process necessary in order for you to make an informed decision about this unique financial planning tool.