Reverse Mortgages Explained

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Many retiree’s and pensioners are now finding the increasing cost of living is eating into their savings and eroding their standard of living. Often retiree’s have their home as their major asset but they are reluctant to sell and downgrade their home to generate cash. Reverse Mortgages are specifically designed for clients who require cash for everyday living or things such as home renovations, an overseas holiday or a new car. This enables borrowers to remain in their home while being able to maintain a more comfortable lifestyle in retirement.

The loan is secured against their owner occupied property and no regular repayments are required as long as borrowers remain in the home. Repayment is deferred until all borrowers are no longer living in the house or the property is sold.

For more information on Reverse Mortgages call Suzy at Best Fit Finance – 0411 528 440 or check out my website – www.bestfitfinance.com.au

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