Why be creative with your Reverse Mortgage?  Everyone has the desire to save money.  Being creative enables you to save thousands of dollars over a period of years in Interest.  To be creative in the first instance you may be able to budget to decide how much additional money you could comfortably use each month and set up a monthly Income Stream.  By having a monthly Income Stream you are only accuring interest at the time your monthly payment is paid into your personal account.

 To go one step further you may elect to exercise more control over your funds by using it as a Line of Credit (Flexible Drawdown Facility)whereby you chose exactly when you would like the money to be deposited into your account, eliminating accruing interest until this actually happens.

There are several ways you may be creative with your Reverse Mortgage to gain the best advantage for you.  You may elect to take your Reverse Morgage as  Lump Sum or you may elect a Flexible Drawdown Facility(Line of Credit), a Monthly Income or a combination of all three.

Reverse Mortgage or as it is sometimes known as Equity Release is a tool for Seniors (over 60) and in some cases over 55 to access finance from the equity held in their home.  Reverse Mortgage can make life more carefree for seniors in several ways, including, paying out an existing Mortgage, Consolidating Debt, Provide funding for the Lifetime  dream holiday, purchase the much needed new car or simply provide additional funds for everyday living.