Many Wisconsin residents believe a reverse mortgage is a good way to obtain cash if you have your home paid off.This is true.However, a Wisconsin reverse mortgage is also an excellent way to pay off your existing mortgage.A reverse mortgage has the power to provide cash for home improvements, vacations, healthcare, taxes, and gifts. It can also save you hundreds or thousands of dollars a month by eliminating your current mortgage payments.

One Wisconsin senior recently asked if he could get a reverse mortgage and continue to make payments on his existing mortgage.The answer is no.This, in essence, would amount to a second mortgage.Remember, a reverse mortgage is a loan. The loan does not come due until death or permanent move, but it is a loan nevertheless. Use our reverse mortgage calculator to gain some insight on home and reverse mortgage values.

Reverse Mortgage Page is the right place to find Wisconsin reverse mortgage information and trusted, HUD approved reverse mortgage lenders.

Another great resource for Wisconsin seniors:

Area Agency on Aging, Inc. Robert Kellerman, Executive Director 2850 Dairy Drive, Suite 200 Madison, WI 53718 Phone: (608) 224-6300