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Attention senior homeowners: Have you thought about “downsizing” from your home where you’ve lived for many, many years? Have you thought about living in a smaller house, perhaps in a different community, perhaps closer to those grandchildren?
Does your current house have high upkeep costs? Do you need new kitchen appliances? Is that old air conditioner on the verge of giving-out? And that monthly utility bill this summer with the air conditioner running all day and night -- that’s a lot of money! Buying a new house sounds impossible, especially considering a new monthly house payment much higher than the payment on your current home.
If you answered “yes” to the questions above, and have significant equity in your current home, there may be a program to help you get into a new house -- Yes, NEW house – with NO monthly mortgage payment.
The adage “if it sounds too good to be true, it probably isn’t” doesn’t apply here if you qualify – and it costs nothing to see if you qualify. The process “enables senior homebuyers, age 62 or older, to purchase a new primary residence and obtain a reverse mortgage in simultaneous transactions with no monthly mortgage payments” 1
Combining this home-buying opportunity with a “life care planning”2 assessment to take care of all you’ve worked for in the past 62+ years may be just what you’re looking for. There’s a lot more to learn, and you’ve earned the right to learn it and enjoy life as a senior citizen.
1 Brochure: Wells Fargo Home Mortgage, Reverse Mortgage For Home Purchase,
2 Wilson Elder Law Center
For additional information contact Jim Wilson, 228-872-3123, and Vickie Fruge`, 228-604-2103.