Your home in exchange for a pay lifetime

At 85, Carmen, a widow with a daughter, has decided to turn its bricks in euros. His pension did not allow for more, but if your house. With a home in Fort Barcelona's Eixample, priced at 288 827 euros, hired last June a reverse mortgage for which he has received 18,000 euros at the beginning and a lifetime monthly income of 710 euros. In the same city a marriage of 85 years each and a house priced at 850,000 euros, has recently hired a reverse mortgage. They have received 15,000 euros suddenly the day of the signing, more 2,100 euros a month until the death of the last of the two.

Joseph's case is different. 75 years old, single and childless, he has opted to hire a product called annuity real estate to supplement his pension. Thanks to his house, valued at 190,000 euros, Fermin Caballero street, neighborhood La Paz (Madrid), receives 608 euros per month for life and will continue to live on the floor. Also, you need not pay the IBI, the extraordinary contributions of the community or home insurance.