Retiring in Lakeland, Florida, can be a comfortable and enjoyable experience. Whether you are an avid golfer or a lover of sunny warm weather, Lakeland has much to offer. Senior Lending Corporation can elevate your retirement experience in Lakeland by helping you take advantage of a reverse mortgage.
A reverse mortgage is one way to supplement your retirement income with some flexibility. It allows you to exchange your home’s equity for regular payments, receiving money from a lender instead of paying it to them. Lenders pay in a few ways, such as a line of credit, a monthly payment system or a lump sum.
With a reverse mortgage, you keep the title to your home and continue to maintain ownership of it as long as you honor the loan agreement and pay your property taxes and homeowners’ insurance.
There are two types of reverse mortgages:
Reverse mortgages provide many advantages to those in retirement, helping pay for various expenses such as:
A reverse mortgage enables you to age in place at your home without paying for a monthly mortgage. You can tap into wealth built up in your home, turning it into spendable cash to cover your expenses throughout retirement. The income you receive from your reverse mortgage is also generally tax-free.
The basic requirements for a reverse mortgage include:
Senior Lending Corporation is licensed to work throughout the state of Florida, so we intimately understand the unique needs you face. Our team also has years of experience working in the industry, so we know how to help homeowners from a variety of backgrounds and financial situations. Whatever your needs and aspirations, we can help you achieve your goals.
Our priority is to enable you and your family to enjoy retirement with financial peace of mind. We will provide the honest and comprehensive guidance you need to understand the reverse mortgage process and receive the benefits you deserve.