Page 1 - WSAAG071_Senior Care Flyer

Using Home Equity

to Fund In-Home Care

If you’re like many homeowners, your house is your greatest asset. Like others, you may need access to
additional funds to supplement your health insurance in order to cover expenses like in-home care. A Home
Equity Conversion Mortgage (HECM) loan, also known as a reverse mortgage, allows you to put your hard-
earned home equity to work for you. HECM loan proceeds are tax free and can be used to cover the cost of
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your care needs while you continue to live in your home.

HECM Loan Basics: The Facts:

3 You must be 62 or better 3 Many incorrectly believe that medical

insurance will cover in-home, long-term
3 Your home must be your primary care 2

residence
3 70% of those 65+ will need assistance at

3 You pay no monthly mortgage some point 3

payments so long as you continue
to pay property taxes, homeowner’s 3 Aging in place has been shown to have

insurance, and home maintenance health and emotional benefits over
costs institutional care 4

3 25% fewer doctor visits occur when home

care is in place 5

For more information contact me today!

WSAAG071