What can we do with the proceeds?

ANYTHING YOU WANT!!!

Payoff existing mortgage                        Pay off high credit card bills

Pay medical bills                                      Buy long term health care insurance

Purchase a new car                                Take a trip or vacation

Do home repairs or remoldeling              Have some extra needed cash for that rainy day

How can the money be taken?

THE MONEY CAN BE TAKEN IN A NUMBER OF DIFFERENT WAYS

Monthly Tenure - a predetermined amount will be sent to you and your surviving spouse every month for the rest of your lives, as long as the property is your primary residence.

Lump Sum - You will be given all the money for your home in one lump sum.

Line of Credit - The money remains with the bank and will grow at a predetermined interest rate. You may take the money as you need it.

Combination of Any of the Above - For instance, you may want $30,000 to buy a new car, aand then leave the balance in a Line of Credit.