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Another way to use your home for retirement is a sale and leaseback arrangement. Under this arrangement, you sell your home and transfer title to the buyer. You continue to live in the home and pay a monthly rental to the new owner. This enables you to get cash out of your home and still live in your home.
IMPORTANT NOTE: Both a sale/leaseback and reverse mortgage should be approached with caution. Consult with a trusted independent professional, such as your accountant or attorney, before undertaking these techniques. Neither of these options should be your first choice in funding retirement.
IMPORTANT NOTE: Since title to your home transfers under a sale/leaseback arrangement, all future appreciation of the home belongs to the new owner.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Heartland Bank and Heartland Planning Associates are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Heartland Planning Associates, and may also be employees of Heartland Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Heartland Bank and Heartland Planning Associates. Securities and insurance offered through LPL or its affiliates are:
|Not Insured by FDIC of Any Other Government Agency||Not Bank Guaranteed||Not Bank Deposits or Obligations||May Lose Value|