Reverse mortgages have helped hundreds of thousands of seniors fund their retirement through the additional guaranteed income of a Colorado Reverse Mortgage Loan.

Colorado Reverse Mortgage

A Colorado reverse mortgage is a loan that enables senior homeowners, age 62 and older, to convert part of their home equity into tax-free* income. This is done without having to sell their home, give up title to it, or make monthly mortgage payments.

The Colorado reverse mortgage is also knows as a HECM or Home Equity Conversion Mortgage because it helps convert the equity in your home into additional retirement funds for the borrower.

The borrower has the choice of how the funds are paid out. Borrower can choose to receive funds in one lump sum or to be paid out in monthly checks over time.

The loan becomes due when the last borrower permanently leaves the home.

There are many reasons that a senior looking to supplement their retirement income should consider obtaining a Colorado reverse mortgage. Here are a few:

• Stay in your home. It allows you to remain in your home and retain home ownership.
• No monthly mortgage payments required. You need not pay back the reverse mortgage loan nor make any monthly mortgage payments until you permanently move out of the home.
• Tax-free money. Because the money you receive from a reverse mortgage is not considered income, it is tax free* and will not affect your Social Security or Medicare benefits.
• Freedom and flexibility. The money you get from a reverse mortgage is yours to use in any way you choose.