Reverse Mortgage Case Study - Home Environment Modification

A 74 year old wife needs a way to help her husband stay in their home. Her 76 year old husband has been wheel-chair bound by a debilitating stroke that has left him partially paralyzed on his left side. Their current home will not accomodate a wheel-chair and the wife does not want her husband put into a nursing home.

One solution is for them to take out a reverse mortgage on thier current home and use the reverse mortgage proceeds to add on a wheel-chair accessible addition to the home. The reverse mortgage would provide them with a $95,000 line of credit, part of which would be used to build the new addition.

They remaining part of the reverse mortgage line of credit could be used to cover any additional expenses needed to help care for her husband.

With the reverse mortgage, the husband and wife would be able to stay in their home together. The wife would not have to worry about making payments on the reverse mortgage while caring for her sick husband.

Information brought to you by www.reverse.settle-today.com and reverseannuity.blogspot.com