Using a Reverse Mortgage for Repairs that can Reduce Falls
One in four Americans age 65 and older falls each year. From bruises and strains to broken bones and lasting trauma, falls threaten the health and safety of seniors as well as their economic security and independence. Falling, however, is not an inevitable part of aging. Falls are preventable, and recovery is possible.
Ways to prevent falls:
- Stay active as you age, including weight-bearing exercises
- Avoid walking in icy and unsafe weather situations
- Take Vitamin D to prevent deficiency
- Manage medications appropriately
- Participate in programs that reduce the fear of falling and improves balance
Many risk factors for falls are home-related. They can include simple fixes like removing loose rugs, changing footwear, clearing obstructed walkways, fixing unstable furniture, and adding sufficient light bulbs in hallways and bedrooms. But there may be more significant home modifications that may need to be made to prevent falls that are more expensive and require construction and remodeling.
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More on Reverse Mortgages & Funding Repairs to Prevent Falls
Homeowners on fixed incomes may not have the financial means to fix needed repairs, even forcing them to move from their homes. Fortunately, funds from a reverse mortgage loan can be used to make necessary home remodeling and repairs to improve homeowner safety and lessen the risk of falls, giving seniors peace of mind, and allowing them to stay in their own homes.
If your home requires structural modifications like widening hallways or doorways, adding permanent mobility ramps, modifying curbs or steps, replacing poor pavement and sidewalks, or adding an elevator, a reverse mortgage could be the answer.
Falls are the leading cause of injury and injury-related deaths among seniors 65 and older. To find out how you can use a reverse mortgage loan to fund home repairs that can help reduce fall risks, speak with a Certified Reverse Mortgage Professional.
Learn more about how people are using home equity conversion mortgages for purchasing homes:
Please keep in mind that the reverse mortgage industry in constantly changing and some of the information contained on this site may not be current. Please ask a licensed reverse mortgage professional for up-to-date guidelines. You can also learn about some of the misconceptions people have of reverse mortgages in our FAQ area.
Another topic you might find helpful: Understanding the steps in the reverse mortgage process.