Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage loan insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage (HECM), and is only available through an FHA-approved lender.
If you are a homeowner age 62 or older and have paid off your mortgage or paid down a considerable amount, and are currently living in the home, you may participate in FHA's HECM program. The HECM is FHA's reverse mortgage program that enables you to withdraw a portion of your home's equity. With a FHA Insured mortgage, the borrower is responsible for paying the premiums of the insurance and the insurance is on behalf of the lender.
If you are a homeowner age 62 or older and have paid off your mortgage or paid down a considerable amount, and are currently living in the home, you may participate in FHA's HECM program. The HECM is FHA's reverse mortgage program that enables you to withdraw a portion of your home's equity. With a FHA Insured mortgage, the borrower is responsible for paying the premiums of the insurance and the insurance is on behalf of the lender.
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If you are a homeowner age 62 or older and have paid off your mortgage or paid down a considerable amount, and are currently living in the home, you may participate in FHA's Home Equity Conversion Mortgage (HECM) program. The HECM is FHA's reverse mortgage program which enables you to withdraw a portion of your home's equity.
Speak with a reverse mortgage originator to find out if a reverse mortgage is right for you! For a free no-obligation consultation, contact Katie. She can explain the details and process easily, either in your home or over the phone. Katie can also send you an information package with a personalized easy to read quote.
My husband and I had talked to a couple of reverse mortgage people before Katie Austin. We found her to be very business-like, but also a kind, thoughtful, personable and a sincere young lady. She showed us all our options and then let us make up our own minds with no pressure put upon us. My husband has since passed away and thanks to Katie I am secure in my own home without finance worries.
Important: Reverse Mortgages are neither "endorsed" nor "approved" by the Federal Government. The FHA (Federal Housing Administration) provides certain insurance benefits for lenders and borrowers in connection with the lender's HECM loans; the FHA does not make or originate loans. The borrower is responsible for paying the premiums of that insurance and the insurance is on behalf of the lender.
My main objective in my work is to make sure every borrower is informed and understands the reverse mortgage program and process. I believe education and transparency are the key to a successful transaction. I currently reside in Clovis, CA with my husband and daughter. We moved to Clovis from the Central Coast in 2015, where my husband and I were both born and raised.
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