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Are you struggling with healthcare payment plans, cannot live off of disability payments, and are looking for ways to remain at home instead of an assisted living facility? The stress of being unable to cope with healthcare bills and the possibility of losing your independence and home can be overwhelming. Many seniors and retirees find that Social Security, pension, and Medicare insurance can only cover so much. You may be asking yourself, “How am I supposed to make up the difference?”

Strategic Financing For Seniors | Alternative Options for Seniors with Medicare

If you and your spouse have been disciplined about paying your mortgage over the last two or three decades and have significant equity in your property after decades of home ownership, you might be in for a reward. There are several options to understand and review when it comes to refinancing your home so you can convert home equity into cash.

How can home equity help with medical bills?

The liquid capital that you might convert from home equity can enable you to pay burdensome healthcare bills or create options for a more sustainable retirement lifestyle.

Thousands of seniors have received financial relief at a time when both health and work can be difficult to maintain. If you’re 62 and up and have significant equity in your home, help may be just around the corner. If your spouse has passed away and you are left making decisions alone, we can help with guidance and solutions to help ease your burden.

Solutions for Retirees

  1. It is important to speak to a trusted advisor about your circumstances, someone who can truly look at your entire situation, and educate and clearly explain your options.
  2. If you are under the age of 62 and discussing options for your retired parents, ensure you have all financial records and information available such as:
    • Total mortgage balance
    • Parent’s Date of Birth
    • A copy of your parent’s estate plan
    • Any liens or refinancing that may have occurred on the property
    • Financial/income records for the last two years

Do not wait to start asking for help with your retirement finances. Contact the trusted advisors at SMPL Mortgage today by calling (626) 583-1623, …. or by contacting us HERE. We make everything humanly possible.

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