Home Equity Retirement Options. The Alternative to the Reverse Mortgage.
If you are a homeowner, age 62 or older, interested in converting some of your home equity into cash, this may be the arrangement you are looking for. Under the Home Equity Retirement Option you will receive between 10% and 15% of the present market value of your home in cash upon signing an agreement giving the option investor the right to purchase the property at a discount upon your death or relocation.
It is important to emphasize that the option cannot be exercised, generally, during the owner’s lifetime so they are assuring him or her of continued ownership and possession.
The Home Equity Retirement Option is a work in progress and will soon become available. Elsewhere on this website you will find the answers to frequently asked questions as well as a form in which you are invited to express your thoughts…
Unprepared for Retirement?
According to a recent study by the Center for Retirement Research at Boston College, almost half of all working-age households are at risk of being unable to maintain their standard of living in retirement.
Contributing to this growing problem are the disappearance of the traditional company pensions, anemic savings rates, both in personal accounts and 401(k)s, unbridled consumption, and the likelihood that changes in Social Security will increase the age at which benefits are payable or reduce benefits or both. The conditions are felt most keenly by those Americans aged 62 or older. Given the enhanced values represented by their homes, usually the largest of their assets, it is inevitable that they address their financial situations through home equity solutions.
HERO: Home Equity Retirement Options 