Reverse mortgages have been around since 1961.  In essence, these loans allow you to tap into the equity of your home and access a portion of that equity in the form of cash – and also stop making your monthly mortgage payments, except for taxes and insurance – but some programs even lump those expenses into the loan.  There are certain requirements such as the person must be 62 years of age, and has to occupy the property full time.  There are also limits that lenders are willing to go up to – and other limits set by the government.  This type of loan can lift a huge burden off the back of the right individuals, but might not be a perfect fit for everyone.  Many people don’t understand how it works if you die prematurely – or what happens if you end up owing more than the house is worth.  Will the bank own your home in the case you pass?  FLiP Creative Consulting knows the professionals with the answers to these questions – and more.  If you are seriously looking at maximizing your options, and are at least the age of 62, with equity, and occupy the property… It’s time to explore a reverse mortgage and then make the move.  #MoveToFLiP