The Curtis Lawrence - Mr. Reverse Mortgage Team is your premier reverse mortgage team located in Portland, Oregon. The experienced team members here are committed to quality customer service and putting the needs of the people it serves first. Curtis Lawrence - Mr. Reverse Mortgage will always adhere to the highest degree of integrity in all business dealings.
When it comes to Reverse Mortgages, education is the key. Curtis Lawrence - Mr. Reverse Mortgage's pledge to you, is to complete the education process, so you are able to make an informed decision. Curtis Lawrence - Mr. Reverse Mortgage always encourages prospective clients to invite family members and financial or other advisors to be a part of the discussion during the education process.
When it comes to Reverse Mortgages, education is the key. Curtis Lawrence - Mr. Reverse Mortgage's pledge to you, is to complete the education process, so you are able to make an informed decision. Curtis Lawrence - Mr. Reverse Mortgage always encourages prospective clients to invite family members and financial or other advisors to be a part of the discussion during the education process.
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Real letters from real clients expressing their Reverse Mortgage experience. Please share some of your opinions on your experience with Curt and how your Reverse Mortgage has benefited you. We really appreciate all you did for us in obtaining our reverse mortgage. All the staff was kind, courteous, and interested.
Very simply, a Reverse Mortgage is a way to convert home equity from your primary residence into liquid funds if you are age 62 or over. The equity that you built up over years of making mortgage payments can be paid to you. The senior homeowner is able to access an amount of home equity based on the age of the youngest borrower, value of the property up to the FHA lending limit (currently $679,650), and current interest rates.
The Home Equity Conversion Mortgage (HECM) for Purchase allows seniors at least 62 years of age to purchase a home through a reverse mortgage. This can be a valuable option for seniors who need a new home that better meets their physical needs, or who wish to move closer to family members. Since this is a reverse mortgage product, monthly payments are not made on the new house.
What is a reverse mortgage? A Reverse mortgage is a loan available to seniors over the age of 62 which allows them to convert the equity in their home into cash. A reverse mortgage can also be used to purchase a home. How can I qualify for a reverse mortgage? To qualify for a reverse mortgage a borrower must be at least 62 years old, own a home, and have sufficient equity in that home.
According to the National Aging In Place Council (NAIPC), more than 90% of older adults would prefer to age in place rather than move to senior housing. The advent of the FHA insured Reverse Mortgage has been very timely for our aging population. The vast majority of our seniors are homeowners and in most cases a large portion of their net worth is tied up in home equity.
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George Churilla
Nov 21, 2018
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