Decision Tree Answer
If you live in a single family residence and are having difficulty affording the property consider getting a home loan or a reverse mortgage if you qualify.
No matter what your age Colorado highly recommends that you seek out a housing counseling agency offer guidance on homebuying, renting, reverse mortgages and default and foreclosure prevention. There are also agencies that offer specific foreclosure avoidance counseling.
Foreclosure Avoidance Counseling – CLICK HERE
HUD Approved Housing Counseling Agencies – CLICK HERE
Reverse Mortgage – CLICK HERE
Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income.
Source: AgeWise Colorado Contributor
Contact your local Area Agency on Aging and 2-1-1 and they may know of additional resources on this topic.
Area Agency on Aging (AAA)
An Area Agency on Aging (AAA) is a public nonprofit agency designated by a state to address the needs and concerns of all older persons at the regional and local levels. AAAs are primarily responsible for a geographic area, also known as a planning and service area (PSA), that is either a city, a single county, or a multi-county district. AAAs coordinate and offer services that help older adults remain in their homes, if that is their preference, aided by services such as home-delivered meals, homemaker assistance, and whatever else it may take to make independent living a viable option.
Find your local AAA by visiting their website or calling 1-800-677-1116.
2-1-1 is a confidential and multilingual service connecting people to vital resources across the state. No matter where you live in Colorado, you can find information about resources in your local community. Dial 2-1-1 from your phone or visit their website.
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