Are you curious about the options available to turn the equity you have accumulated in your home into cash? You see the ads and read the news, but do you know the facts as they apply to your specific situation? For many Texas seniors aged 62 and older, a reverse mortgage can help you secure your finances and ensure financial stability for many years to come.
I help Dallas / Fort Worth area Senior homeowners with information and questions regarding obtaining a reverse mortgage loan. If you have rejected looking into a reverse mortgage as a credible financial option in the past due to your own preconceived beliefs, or the opinions of those around you, now's a good time to research them further.
I help Dallas / Fort Worth area Senior homeowners with information and questions regarding obtaining a reverse mortgage loan. If you have rejected looking into a reverse mortgage as a credible financial option in the past due to your own preconceived beliefs, or the opinions of those around you, now's a good time to research them further.
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Over the past several years, reverse mortgages have grown in popularity. Texas is one of the top states for reverse mortgage growth in the United States. We all hear the reverse mortgage commercials on TV, but do we know exactly what reverse mortgages really are? And more importantly, is a reverse mortgage something that is safe and can help me improve my life?
The first step in obtaining a reverse mortgage is to select a lender that will work closely with you during the process. Your reverse mortgage lender should be experienced and knowledgeable about the industry. Reverse mortgages are not the same as traditional forward mortgages; they require the expertise and experience of someone who specializes specifically in them.
One of the most attractive benefits of reverse mortgages is that no monthly mortgage payments are ever required. You will need to pay all taxes, insurance, maintenance, and HOA dues if any are required. You can choose to roll your closing costs into the loan which means minimal or no out of pocket costs.
3 Pay routine monthly expenses. 4 Cover unexpected expenses, emergencies, or costs incurred during a life transition without dipping into savings or other assets. 5 Maintain a line of credit that can be used as needed. 6 Build a cash reserve that will sustain you through investment market fluctuations and give you the flexibility needed to weather market trends.
In 1975, I graduated from Southwestern University, in Georgetown, Texas with a BBA in business and economics. I have over 40 years of business experience, primarily in the financial services industry. Twenty years of my work experience have been in mortgage lending, of which the last three have been spent exclusively in the specialty of reverse mortgages.
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