Reverse Mortgages is a unique loan available to those 62 and older. It allows the homewoner to take part of the their equity in their home and turn into income with out selling, giving up title, or taking on monthly mortgage payments
- Seniors will never have to leave their home as long as taxes and insurance payments are made and the home is kept in reasonable condition
- No Income Qualifications
- No Credit Score Requirements
- No monthly mortgage payments required
- No repayment of the loan until the last borrower moves out permanently or passes away
- Proceeds paid in lump sum, monthly payments, line of credit or any combination
- Independent Consumer Counseling required
To find out about all the options available to you or a family member on a reverse mortgage contact a reverse mortgage specialist!
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