Need money for retirement? Here is one option.

A reverse mortgage is called that because it is the opposite of a traditional home mortgage. Instead of borrowing money to buy a home and paying it back in monthly payments, you use the equity already in your home to get cash out without having to move out or repay the loan. Contact Us.

Access your home's equity in the way that works best for you.

When you get cash from a reverse mortgage, you have a number of options:

• Take it all at once, in a single lump sum of cash.
• Take it as a regular monthly cash advance.
• Access it through a "credit line" account that lets you decide when and how much of your available cash you take out.
• Any combination of the above three options.

However you decide to take the cash, you don't have to pay anything back until you sell the home, move out permanently or pass away. Then, proceeds from the sale of the house will be used to pay back the equity you've used. To apply for a reverse mortgage you need to be 62 or older and live in the home as your primary residence.

A convenient way to use the equity you've built in your home.

For most people, your home is one of your biggest and best investments. As you've made your mortgage payments over the years, the equity has been building up, resulting in a good nest egg. But, unlike a bank account, you can't make a withdrawal from it. With a reverse mortgage, now you can. A reverse mortgage may not be your best option. Some folks may be better off selling their home and using the proceeds to move to a less costly home, condominium or apartment. Contact a Centennial Lending Reverse Mortgage expert to discuss your options.

Use your reverse mortgage for any purpose you like:

• Travel
• Home Improvements
• Long-term care for a loved one
• Medical Expenses
• Living Expenses