Perhaps this sounds familiar to you: you worked all your life, paying all taxes and mortgage and now, in your golden years you have only your pension to live from. You finally have the time for travelling or doing things you couldn’t do before because of the lack of time and the hard work... but now, you haven’t got the money you need!

But, you can reverse this situation with a Reverse Mortgage. Duplicate your income and finally enjoy your life!

Perhaps this sounds familiar to you: you worked all your life, paying all taxes and mortgage and now, in your golden years you have only your pension to live from. You finally have the time for travelling or doing things you couldn’t do before because of the lack of time and the hard work... but now, you haven’t got the money you need!

80% of senior people has their pensions as the only income to face your golden years... but with only the money from the pension you can have no more than bronze years!

Well, if you are over 62 years old and your house is your primary home, you can have a reverse mortgage and with it, increase your monthly income. It is a special type of home loan that allows the home owner to transform in cash a part of the capital on housing values. The capital accumulated over years of mortgage payments can be paid back to the landlord. But, unlike a traditional home equity loan or a second mortgage, you are not required to pay the mortgage meanwhile you are using your home as principal residence.

Like all homeowners, you will be still required to pay property taxes and other conventional payments like utilities, but with a reverse mortgage, you can’t be moved for your home for "not having made the payment of the mortgage." And your house can’t get into foreclosure.

You can be paid in several options depending on what you choose:

• Equal monthly payments as long as one of the borrowers live there and continued to serve as a primary residence. (Tenure)

• Equal monthly payments for a preset amount of months. (Term)

• Line of credit: the borrower withdraws money when and how you want until you finish the line of credit.

• Combination of line of credit and monthly payments as long as the borrower remains occupied housing. (Modified tenure).

• Combination of line of credit with a fixed payment for a predetermined number of months (Modified term).

But, how much money can you get?

Well, it will depend on your age and the value of the property. You can receive between 45% - 75% of the appraised value of your home. The older you are, the higher percentage you will receive. Also, you will not pay any income tax on the reverse mortgage, you can duplicate or triplicate your pension!