Details.
Discuss releasing equity in your home through a reverse mortgage. Funds may provide a regular non-taxable income, a lump sum drawn when needed, assistance with an existing home loan, credit cards, a car, a holiday, renovations, residential accommodation costs or unexpected expenses. A No-Negative Equity Guarantee applies by law, you remain the owner of the home, regular repayments are not required, and a MoneySmart Calculator is provided to indicate the effects of the loan over five, 10 and 15 years. Property must be maintained, rates or strata paid, and insurance kept current.