Did you think it could be better timing to act now when drawing on the equity of your house? It might seem the longer you wait the higher your equity will become, and thus the greater advantage you will have in drawing upon it.

Not so in the case of a reverse mortgage right now, for there is an unusual opportunity to increase your credit line if you act sooner rather than later.

If you are considering a reverse mortgage and secure a credit line at the lower rates available presently, then your credit line will actually INCREASE as the interest rates inevitable rise. The credit lines are set up on a proportionate system based on the current rate and the mortgage insurance premium which means as rates rise in the future, the credit line also grows.

Considering a reverse mortgage now may be the perfect option to be sure you do not outlive your equity, putting your hard work to use for your comfort and your need now. Taking advantage of the lower interest rates could give you a high credit line up front, and lead to an even higher line as the rates grow. Age has less benefit than the present low interest rates.

This means that obtaining a reverse mortgage, which might seem like it is increasing your obligation or debt, could actually yield you the opposite by giving you more, it is a sure fire investment reaping long term benefit from your years of investing in your home.

The time is now to consider a reverse mortgage.

For seniors 62 and older, regardless of credit or income through April 27, 2015 (at which time some changes will be implemented to the qualifying process), a reverse mortgage line of credit is very feasible option.  Utilizing the equity of the asset you already have can help fund the retirement of your dreams  – or just your retirement.  You will always retain the title to your home and will live mortgage payment free.  How you decide to use this asset is up to you, but the line of credit option is an interesting opportunity that should not be overlooked.  And a common misconception is that your home will be lost after you pass.  With proper education via required third party counseling and retirement planning, this does not need to be the case.

Jan Jordan is a Reverse Mortgage Specialist serving the Fort Collins, Loveland, Longmont, Greeley, and Front Range areas of Colorado as well as Cheyenne and Laramie, Wyoming. Click here to contact Jan and learn if reverse mortgage is right for you.