Irvine, CA -- (SBWire) -- 10/07/2014 --Many seniors don't have as much money available in their retirement as they really need, but they often do have equity in a primary residence. Reverse Mortgage Irvine is now offering a free guide that covers many of the critical questions that families have about these loans, so that people can make a more informed decision about whether using a loan to access that equity is a sensible financial move in their situation.
The latest survey information from the Federal Reserve includes some troubling details about the state of retirement saving in the United States. Just under a third of the people responding indicated that they don't have any retirement savings or pension, and this included just under 20 percent of households with people aged 55 to 64. Many individuals have admitted that they can't even really afford to retire, and will have to keep working as long as possible. For people who don't have enough in retirement but do have equity in their primary residence, a reverse mortgage could represent a good retirement planning tool.
The loans themselves are a way of getting access to the equity in a home, without the risk of losing the property that a home equity loan represents. However, the decisions involved can initially seem overwhelming. People don't just have to decide whether they want to do it, they also have to make decisions like whether they want to get the money in monthly payments, a lump sum, as advances on a line of credit, or some combination of those options. According to Matt Evans, a company representative, "For people who've never heard of this option before, it's a big decision. We feel that it's important that someone be able to get the necessary information, and then have time to digest it before deciding what is best for their family."
Evans adds, "We also know that a lot of people don't want to get in touch with us right away because they're afraid they'll get a hard sell. That includes some of the people who would benefit most from these loans. That's what inspired this guide. It covers the really important questions that we hear every day and offers all of the basic details of how these loans work. Someone can visit our website at reversemortgageirvine.net to request a copy for free and read through it with absolutely no obligation. It's entirely up to them whether to seek more information or not."
When asked what he wanted to say to people who were debating seeking information, he said, "I would just say get your free guide because it answers critical reverse mortgage questions. Make sure that you understand what's available. This is a big decision, and we don't want anyone to have to make it under pressure, but we also want to make sure the information is out there for the people who need it."
About Reverse Mortgage Irvine
Reverse Mortgage Irvine is a company that is entirely focused on helping people to use reverse mortgages as a retirement tool. They are true specialists in the area who try to help every family to choose the options that best fit with their long-term goals and dreams. There is additional information at their website, www.reversemortgageirvine.net, explaining how the loans really work and clarifying details like who qualifies and how these loans differ from a traditional mortgage. They feel that people who are making big decisions deserve to do with guidance from someone who is an expert in the area, and can walk them through all of the necessary details and steps.
