Seniors Sacrifice Health to Pay Mortgage!
Hey everyone! Mortgage Nerd here. I saw a statistic recently. Seniors’ healthcare expenses, meaning that they pay more for healthcare, goes up 25% after they pay off their mortgage. So think about that. You have a mortgage, you’re making payments on it, but you don’t have enough money to pay for all your medicine. Well, once they pay off that mortgage and they no longer have the mortgage expense, they turn around and they start spending more on their medical expenses. So they’re kind of depriving themselves of their healthcare to pay a mortgage when there’s something called a reverse mortgage that helps them in retirement, when you’re older, and your income is fixed, and maybe this is a solution for you. Instead of depriving yourself of the healthcare that you need, you can get rid of your mortgage payment and use that money you’re not spending towards your health so you could live younger, longer and feel much better!
