Reverse mortgage help
A new service which provides free advice on equity release/reverse mortgages is now available to consumers.
National Information Centre on Retirement Investments Inc (NICRI) has launched the Equity Release/Reverse Mortgage Information Service.
The service covers topics such as compound interest, drawdown versus lump sum, the no negative equity guarantee, contract default clauses, social security consequences and more.
Information officers are available via a national toll-free telephone service to speak directly to consumers regarding their individual circumstances.
The service is funded by the Federal Government.
Phone the hotline on 1800 615 676 or go to www.nicri.org.au for more information.
