Should I Get a Reverse Mortgage During the Housing Recovery?
Home prices continue to rise even though they are still 33% below peak levels, reports an article in Reverse Mortgage Daily, via Clear Capital’s latest Home Data Index.
In fact, national home prices gained 9.3% over the last year and 1.6% over the last quarter alone. While the West has led the nation with the highest regional gain of 17.8%, the South reported gains in price appreciation of 7.6%.
The uphill rise in home prices signals a positive outlook for homeowners hoping to apply for a reverse mortgage to supplement their retirement or hoping to use their reverse mortgage as a retirement planning tool. There are many optionsavailable under the reverse mortgage program and many ways to use your home equity to make sure you retire comfortably.
The top performing metropolitan markets in Florida–Miami, Fort Lauderdale and Miami Beach–reported quarterly gains of 3.2% and yearly gains of 19.3%.
If you live in Florida, home prices continue to surge upward, so it’s crucial not to wait.
If you have put off getting a reverse mortgage in the past, in hopes that your home appreciates in value, it’s finally happening. If you are hoping to refinance reverse mortgage, the rise in home values are creating the perfect opportunity for you to do so.
In addition, new regulations coming to the reverse mortgage program are being implemented in order to make consumers’ experiences better across the board.
At PS Financial Services, a reverse mortgage company in South Florida, we work to find the best lender to fit your situation. The time to wait and see is over because all you have been waiting for is already happening. It’s crucial not to miss the train, waiting on the platform, but jump right while home prices are in the upswing and shows no signs of slowing down.
You have worked for your home and retirement, it’s time to take advantage of the equity you have collected during your lifetime. It is a source of untapped wealth that can mean the difference between aging in place and being forced to move.
It’s important to note that reverse mortgage aren’t just for the financially desperate. In fact, many retirees who apply for a reverse mortgage can have a large asset portfolio. Most just want to have extra income, that they paid for via monthly mortgage payments, available if, and when, something unexpected happens.
It’s time to consider your options, now that home prices are in an uphill turn, and take the plunge into comfortable, stress-free retirement.
Interested in a reverse mortgage program or want more information? Give PS Financial Services a call at (888) 845-6630 or email us at info@PSReverseMortgage.com. We do not pressure those who inquire. We are simply here to help.
Click here for more information about the elimination of the reverse mortgage program as we know it: