Empty-Nester? Downsize with a Reverse Mortgage

Many seniors feel the increasing burden of maintaining their properties. Whether it’s a large lot size, decrease in mobility, or being an empty-nester with too much space, you can use a reverse mortgage to help you find a smaller home in Minnesota that’s less work to manage!

But moving presents its own challenges. Maybe you want to take your time moving from one place to the next, or maybe you don’t have enough retirement income to qualify for a forward mortgage.

You can use a reverse mortgage on your current home to get a lump sum of funds and then purchase your new home free and clear. Then you can sort through 40 years of belongings at your own pace, move into the new home, stage your current home, and wait for the market to be in the best position to sell. The reverse mortgage will be paid off when you sell your current home. The best part? You can go through this whole process without any monthly payments on either property.