So you own a vacation home in the sunbelt (or somewhere else where it’s warm in the winter) and it’s difficult to keep both houses financed and you wonder how long you can keep up with the costs. Not to worry. Consider HECM at your primary residence and RELAX with no payments — in fact, you can take your proceeds in a line of credit that actually earns more interest than the contract accumulates without payments of any kind in your lifetime. “Do” the numbers and then call so we can talk about this.
Consider a HECM mortgage on your primary home “back home in Indiana” or elsewhere in the United States. The HECM loan is like a HELOC home equity except that you don’t need to make payments and the cash you receive can be used as a line of credit to support your dual lifestyle or any number of other budget/retirement plans.
Don’t give up on the sun. Extend your time of winter fun using a HECM without payments.
Consider: http://gofinancial.net/2015/10/forbes-reverse-mortgages-can-be-retirement-saving-grace-immediate-change-request/ and/or http://gofinancial.net/2015/09/building-home-equity-is-the-sweet-spot-for-retirement/
See “information” on Home page navigation tab for current appointment. Call for details.