...Traveling to places such as the Caribben, Costa Rica, New Zealand, Australia, Fiji and many other places, I now don’t have to take a second thought when I am making a decision about my discretionary expenses.

I would recommend a Reverse Mortgage to anyone looking to have the peace of mind and freedoms associated with this great opporturnity.

-Frankin Purnell,
Pomona, California

There are many advantages to using reverse mortgages for people that are over 62 or on a fixed income that no longer meets their needs or is able to suffice for other unexpected expenses such as illness or emergencies. To protect both the lender and the homeowner the lender often offers a loan program is below the actual value of the house to limit the amount of the loan. While reverse mortgage loans are offered to individuals starting at the age of 62, the benefit amount can also vary depending on a person’s age; where an older person would logically be able to receive a larger loan than someone that has just met the age requirement.

Here are some of the advantages to using a reverse mortgage:

• The homeowner is entitled to hold title onto their property and the lender is not legally allowed to ask the homeowner to sell the home to pay back the loan.
• Homeowners that are locked into a reverse mortgage loan are guaranteed the ability to live on their property as long as they live, no matter the increase or decrease in the value of the property.
• The homeowner can decide how they want to take out cash against their property whether it is in monthly payments received, or in one lump sum.

Additional Resources for Seniors

Administration on Aging
www.aoa.dhhs.gov

Alzheimer’s Association
www.alz.org

American Association of Retired Persons (AARP)
1-888-OUR-AARP or 1-888-687-2277
www.aarp.org
Information, advice, and tools for managing aging

American Bar Association
(202) 662-1000
www.abenet.org/public.html
Information about the legal profession, legal topics, locate a lawyer

American Hospice Foundation
www.americanhospice.org
Information and support programs for terminally ill and grieving individuals and their families

Council of Better Business Bureaus, Inc.
www.bbb.org
Easy web research of a company or charity

General Senior Resources
www.seniorresource.com
Encyclopedia of housing choices for seniors

HMOs4seniors.com
www.hmos4seniors.com
Independent Medicare HMO cost comparisons and plan information by area

Internal Revenue Service (IRS)
www.irs.ustreas.gov
Forms and information on federal tax issues

MealCall.org
www.mealcall.org
Find the “meals on wheels” program nearest you for meals, or to volunteer.

National Academy of Elder Law Attorneys, Inc.
www.naela.com
Listing of attorneys who specialize in elder law

National Partnership for Women and Families (NPWF)
www.nationalpartnership.org
See this website’s special selection with articles on care giving issues and links to resources

National Senior Citizens Law Center (NSCLC)
www.nsclc.org
NSCLC advocates nationwide on behalf of low-income elderly individuals and persons with disabilities. It provides services and information relating to age discrimination, American with Disabilities Act, Medicaid, Medicare, Nursing Homes, Older Americans Act, Pension Rights and Social Security.

Social Security Administration
www.ssa.gov
Access to publications about Social Security benefits, both in English and Spanish

Information deemed reliable but not guaranteed and is subject to change.

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