When you turn 62 you become eligible to take out a reverse mortgage.

A reverse mortgage is a type of home loan that allows you convert some of the equity in your home into cash. It is similar to a HELOC or second mortgage but unlike a traditional home equity loan borrowers of reverse mortgages do not have to repay the loan until the borrowers move out of the home.  We advise against this as a way to repay debt and supplement income.  If you outlive the reverse mortgage you will be stuck in the same predicament as before.  Also, if your home is your only asset it is not wise to cash it out.

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What People Have to Say

I just wanted to thank your entire staff at The Law Offices of Leslie H. Tayne, for helping me get out of debt. If it wasn’t for your firm, I would have never been able to resolve my $13k worth of debt in less than 3 years. Your staff did a great job, I was finally able to buy myself a brand new car without using a cosigner. I can’t tell you again how happy I am. I would recommend your services to anyone.

L.C. Client 2007-2009

I sleep like a baby at night now because of the work that you and your office have done. Rest assured that I will refer anyone I know to your office with conditions that are similarly circumstanced.

R.S. Client 2012-2014

You have been very helpful at first directing me in the right direction when I had no clue how to go about handling everything, I really appreciated all your advice and help and hope we can work something out. Thanks again for all your help and kind words, and patience.

D.M. Client 2009-2012

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