Why Use a Reverse Mortgage?

 

Reverse mortgages can be a useful tool if you’re 62 or older. Here’s why. 

 

I’m here today to answer another great question from one of our viewers. This one comes from Miss Peaches. She wants to know “What is a reverse mortgage?” Thanks again for the question, Peaches!

If you’re a homeowner that is 62 or older, a reverse mortgage allows you to use the equity in your home to get cash. This allows you to take any substantial equity out of your home and turn it into cash. If you pass away and/or the home is sold, the money will get paid back. The lender makes their money off the interest that has accumulated during the time you had the cash.

YOU CAN TURN THAT EQUITY INTO CASH.

 

If you have any further questions about reverse mortgages or anything else real estate-related, give me a call or send me an email. I’ve got a $25 gift card coming your way, Miss Peaches. If you have a question and we answer it in a video, I’ll be sending you one as well. I look forward to hearing from you soon.

 

Dan Rochon

Dan Rochon is an Associate Broker in VA, Broker in MD; Operating Principal/ Owner of the Keller Williams Realty office in Alexandria - Kingstowne, VA; Owner of Rochon Investments, LLC; Owner and Co-founder of www.GreetingsVirginia.com and Owner of other Joint Ventures as well as a real estate principles instructor at Moseley Real Estate Schools. 


As a real estate sales agent, Dan and his team are consistently top producers in their marketplace and provide solutions for their clients. Through their investing company, Dan and Traci Rochon have been investing in residential and commercial real estate ventures for more than the past decade.


Dan and his wife Traci are frequent speakers and are often quoted in media stories about the current real estate market. The Rochon's have been featured on The Nightly News with Brian Williams, The Today Show, CNBC, The Washington Post, The Washington Examiner, WTOP News, Voted as The Best of DC Real Estate Agent in the Washington City Paper Readers Poll, and more...