Are you or someone you know considering moving into a long-term care facility? It’s a significant decision that often comes with unforeseen financial implications.
Here’s what you need to keep in mind:
- Monthly Costs: Retirement homes can cost between $3,000 to $5,000 per month, eroding savings, especially for those on fixed incomes.
- Loss of Home Equity: Selling the family home can lead to the loss of valuable home equity, which may not cover ongoing expenses.
But, there’s an alternative!
A Reverse Mortgage provides financial flexibility, enabling you to access to up to 55% of your home’s value without worrying about monthly mortgage payments. This can be used for in-home care or home renovations, ensuring a comfortable and accessible living environment during your golden years.
For more information and a tailored solution, don’t hesitate to get in touch with me! You can reach me at 905-844-4247 seven days a week.