SALT LAKE CITY, UT--(Marketwired - Sep 5, 2014) - Senior living has recently come into question in the United States; namely the quality of life that seniors can expect to have in their twilight years. For the past few decades, a reverse mortgage has been a means by which the elderly can leverage their home equity to better hedge their income for retirement. With the new lower interest rates that were recently implemented by The Federal Reserve, these HECM loans are all the more vital to the survival and happiness of many aging Americans. With less interest comes larger disbursements of cash, providing a vital lifeline for many citizens.

Although HECM loans are often used to supplement a retirement plan; that is not always their core function. Seniors sometimes find creative and healthy ways to live out their latter years by taking extravagant vacations, or investing in a business that they always wanted to own. With the new lowered interest rates, they will have much more to spend, and a better outlook heading into 2015. For the lucky single or couple that has their finances in order, taking out a lump sum of over one-hundred-thousand dollars to 'go play,' can be an awful temptation. However, since the monthly distribution over a ten year period often affords fifty percent better return on investment, many homeowners prefer to let the cash build up for ten to twelve months. This allows them to take a dream vacation once a year for ten years. There are other options for utilizing this capital that could go a long way to making someone happy, such as adding onto the existing home, or finishing the basement.

Whatever dreams or needs the elderly may have regarding their finances, the new interest rates are a favorite new step in the right direction. Whether the homeowner is in dire financial straights or not, having the security right under their feet always provides peace of mind. Americans should all be so lucky to have a valuable asset that can provide for them in emergencies, while they retain the right to will that asset to their heirs. In the spirit of this good news, RMM is offering free financial advice and consulting services to any seniors who may be considering a reverse mortgage as a solution that fits their needs -- now, or in the future. The team at RMM is excited for the lowered interest rates, and agrees that the government has made the right call. For more information about reverse mortgages, please visit: www.ReverseMyMortgage.com