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#49 Using A Reverse Mortgage To Finance Home Renovations


David Garrison
Home Equity Retirement Specialist
NMLS # 1595194
Serving the State of Indiana
p (317) 644-2595 c (765) 516-0130
e [email protected]

2169 East Rutland Lane, Martinsville, IN 46151
Corporate NMLS #1025894

According to experts, it’s now easier – physically, financially, and emotionally – to pursue a cosmetic surgery treatment than ever before. The same might be said for home improvements. Whether you’re updating indoor or outdoor features of your home in order to maintain its market value, or simply preparing your environment to be more aging-friendly during retirement, a reverse mortgage is one strategy that can help you afford those home projects.

After checking out the cost of various retirement community living options, you realized that you cherish the memories created in your own home. Like the growing number of other seniors and soon-to-be seniors, you’ve decided to stay put, ready to check out ways to make your home safer and more functional as you contemplate the years ahead .By implementing home modifications, you want to be able to maintain your independence, and even, in the long run, save a substantial amount of money.

Outdoors, roof repairs and replacements are one important use of the funds released through a reverse mortgage. Indoors, kitchen and bathroom renovations are common. There are now contractors who are specifically trained to do aging in place home remodeling, certified through the National Association of Homebuilders.

A reverse mortgage can be used to tap into the equity in your home to finance those home “renos” so important to the success of your retirement planning. Renovations offer a double benefit: Not only will you have a safer, more convenient environment in which to spend your retirement years, the home’s market value will potentially increase. That’s a true win-win!

*Borrower must occupy home as primary residence and remain current on property taxes, homeowner’s insurance, the costs of home maintenance, and any HOA fees.