“If we lose freedom here, there is no place to escape to.” – Ronald Reagan, a young man raised in Illinois, said this in a famous televised speech. Americans are losing their homes because of this horrible economy and the fact that there are so few jobs available. Many citizens of the United States feel this is our last fighting chance to improve our economy before it turns to socialism but I am not giving up my democracy that easy. Reverse mortgages allow you to pull equity from your home while still living in it and you can use the money you receive to invest into a business or help your family with bills.
President Ronald Reagan knew the success programs like these have had and always will have, that is why he signed the Housing and Community Development Act in 1988. Now this nationwide program is federally insured and there are no credit requirements so these loans are a very feasible option. Whether you are looking for a reverse mortgage in Illinois or you are in California the benefits are clear. Cold hard cash is readily available from the equity you have already built up in your house and you will not have to leave your home while receiving your loan. This allows you to put more money into the economy whether it is to help your family pay some bills or it is to invest into a new business.
Now is the time for Americans to fight for a better economy but with so little resources there are not many options for most people. If you have equity in your house and are over 62 years old, you may qualify for a reverse mortgage loan in your area. Lenders are available across all 50 states who can answer your questions and tell you if this is the right choice for your needs. With over 93% of borrowers in a 2006 survey from a large organization saying their lives had a mostly positive effect from these types of loans, I believe this is the right option for most American citizens over the age of 62.
Remaining free in this economy is tough when you try so hard to raise a family without the availability of jobs for a steady income. In these moments, there are great rewards for taking risks. We have to fight for a better economic future and everyone is responsible. Opening up a business or investing in your family can help, but these days nothing speaks louder than liquid assets. With most people having horrible credit and others having some credit but not good enough for a loan these days, there is always the option of a reverse mortgage.
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