Reverse mortgages have enabled numerous senior citizens to secure themselves going into their twilight years. A reverse mortgage can help pay off debt or just help relieve you of monthly financial obligations that you may be having trouble paying. Before making your decision on obtaining a reverse mortgage it is good to get some advice. Just like any loans or financial products that we offer, you’ll get to fully understand the mortgage product and the process involved to obtain one. Our reverse mortgage specialists are here to guide you and make sure that you understand the process.
A reverse mortgage loan enables you to make use of the equity on your home to help when your income just doesn’t cut it anymore. You can use funds for your everyday living, emergency cash or even vacations to see family you haven’t seen in a while.
What Is Reverse Mortgage?
A reverse mortgage is a loan that enables homeowners, aged sixty-two years of age and over to convert a part of their home equity into tax-free income without the need to sell the home. You do not have to give up title to your home and your heirs still have the option to inherit the home.
The program does not require making any monthly mortgage re-payments. This type of loan only becomes due when the borrower leaves the home, once your home is sold or at the settlement of your estate.
How Does Reverse Mortgage Work?
The reverse mortgage funds available to you depend upon factors such as the age of the homeowner, current market rates, liens on property, and the value of your home. Your credit history is not a major factor. We are a licensed mortgage broker that works with only HUD approved reverse mortgage lenders and our company can provide you with first class service and advice.
How to Apply for Reverse Mortgage Loan?
To get an idea of the amount of money that could be available to you or to obtain any information about a reverse mortgage, contact our reverse mortgage solutions expert today for your qualification.