Senior Helpers provides many in-home, caregiving services for the elderly in Tulsa, Broken Arrow, Bartlesville, Ponca City and surrounding areas. We offer extensive in-home care services for seniors who embrace their independence and the personal dignity that goes with it. Our in-home care services are provided by bonded and insured caregivers all of whom pass a national background check. If a senior family member needs in-home care services in Tulsa County, Osage County, Washington County, Creek County or the surrounding area, we are an excellent choice with exemplary references. In-home care is the compassionate choice for your elderly loved ones' continued independent living. We promise we will do our best to make it a positive experience for them and you. For more information, please visit: http://seniorhelpers-tulsa.com.

1. Senior Helpers In Home Elder Care of Tulsa County, Osage County and
Washington County, Oklahoma, Poses Reverse Mortgage
Considerations
Is a Reverse Mortgage Right For You?
If you are a senior who is age 62 or older and you are living in fear that some day, when you need help,
you'll have to sell your house to pay for it, there is a solution. You may still be able to stay in your home
while paying for home care, home improvements or medical bills.
How? If your home is paid off or you have only a small mortgage left, you can get a reverse mortgage to
tap the equity in your home without selling or moving. These mortgages are called reverse mortgages
because the lender makes payments to you, the homeowner, not the other way around.
The money you will receive is tax-free and will not affect Social Security payments or Medicare benefits.
You do not have to pay off the loan until you move out of the house or the home is sold. You will never
owe more than the value of the home at the time of repayment, even if the loan balance is higher than
the value of your property. No debt will be passed on to your heirs. Reverse mortgage funds are
available to spend any way you choose.
Who Is Eligible?
To be eligible, you must be 62 years or older. (If you are a married couple the youngest partner must be
age 62.) You must also either own the home outright or have a low mortgage balance that can be paid
off with the proceeds from the reverse loan. You must also live in the home. Like all homeowners, you
still are required to pay your real estate taxes and other conventional payments like utilities.
Cautions & Things to Remember
• Be sure to work with a reputable lender, consult with your financial advisor if you have one, and do
your homework before you make any commitments or sign any documents.
• Investigate the costs involved in a reverse mortgage before making the decision. Closing costs and fees
may amount to more than 5% of your home's value.
• If you plan to live in your home for more than three years, a reverse mortgage can make good financial
sense. However, if you know you won't stay in your home that long, then the cost of the loan plus
interest may make seeking a reverse mortgage an unwise choice.
• Using the equity in your home will reduce the amount of money you leave to your family as
inheritance
• If you live alone and need to stay in a nursing facility for more than a year, your loan will come due.
• It takes 45 to 90 days to apply for and receive a reverse mortgage. It may be better to receive one
when you do not urgently need the money for immediate home repairs or in-home care.

2. For More Information
The AARP offers information about reverse mortgages, including an online calculator you can use to find
out how much money you may get from a reverse mortgage.
The National Reverse Mortgage Lenders Association (NRMLA) includes information for consumers
interested in learning more about reverse mortgages
(c)2008 IlluminAge Communication Partners
About Senior Helpers:
Senior Helpers provides many in-home, caregiving services for the elderly in Tulsa, Broken Arrow,
Bartlesville, Ponca City and surrounding areas. We offer extensive in-home care services for seniors who
embrace their independence and the personal dignity that goes with it. Our in-home care services are
provided by bonded and insured caregivers all of whom pass a national background check.
If a senior family member needs in-home care services in Tulsa County, Osage County, Washington
County, Creek County or the surrounding area, we are an excellent choice with exemplary references.
In-home care is the compassionate choice for your elderly loved ones' continued independent living. We
promise we will do our best to make it a positive experience for them and you. For more information,
please visit: http://seniorhelpers-tulsa.com.