Reverse Mortgages

The reverse mortgage is a form of loan which is mostly commonly available to senior citizens. First popularized in Europe, a reverse mortgage allows a lending institution to lease the equity an elderly homeowner has built up in his or her home. The homeowner takes out a loan from the lending institution, which he or she is not obligated to pay until after he or she dies. When the home is sold, the loan is paid to the lending institution.

If you or someone you love is living with heavy amounts of debt and would like to discuss his or her case with an experienced Milwaukee bankruptcy attorney, please contact the DeLadurantey Law Office, LLC, today by calling 414-377-0518.

The Benefits of a Reverse Mortgage

The major benefit of a reverse mortgage is that it allows the borrower to have an income without having to pay off the debt during his or her life. The money can be taken in a lump sum payment, or a regular payment plan.

If the property the mortgage is taken out on has increased in value, it may be possible for the homeowner to take out additional loans.

Contact Us

If you or someone you love is facing a heavy level of debt and is unsure of how to overcome it, the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office, LLC, may be able to help. To discuss your case with one of our compassionate attorneys, please contact us today by calling 414-377-0518.