A steady income when you retire

Hi mates!
This post is addressed to my readers who are 62 years old and older, but you're under this age you may still read it as I found this very interesting myself. This is about reverse mortgages or how can turn your home equity into a fixed income when you retire. If one is not planning to his or her home to his or her heirs this system could turn out to be quite interesting.
Basically, once you have reviewed the reverse mortgage process with a HUD (Housing and Urban Development) approved counselor your home will be approved based on its value on the market and how much you still owe on the house, if it applies. Then sum of money is proposed to you that you may take as a lump sum or as a monthly payment. You may click on this link to find more information, Reverse Mortgage Benefits.
Also another interesting fact is that it has nothing to do with your credit score and can represent Tax free money. If you want more detail, reverse mortgage California can provide you advices from HUD approved consultants and can walk through the whole process. Again you must be 62 years old or older.
That's all folks! I heard about reverse mortgages before and I thought I should share this with you, even if you're to young to be concerned, it's still good to know.

Cheers!