A loan that allows homeowners age 62+ to convert home equity into cash while living at home for as long as you desire. Can receive payments as a lump sum, line of credit, monthly payments (for up to life in the home). It is the homeowners' responsibilities to stay current on taxes and insurance and keep the home maintained, as conditions of loan.
Family members are also strongly encouraged to participate in these informative sessions. This material is not from HUD or FHA and has not been approved by HUD or a government agency.
Family members are also strongly encouraged to participate in these informative sessions. This material is not from HUD or FHA and has not been approved by HUD or a government agency.
Services
Our company's foundation is built on providing every single senior with the highest level of service, compassion, and satisfaction from the 14 years of reverse mortgage expertise from our staff. We provide that good old fashion customer service, which is a rare experience in today's world. Our staff has a deep understanding of the financial challenges that seniors are facing.
Studies suggest that Americans age 65 and older are less likely to be chronically disabled or living in a nursing home today than seniors of the same age were two decades ago. Still, there may come a time when the older adult in your family can no longer manage on their own. They may simply need help with daily grooming, bathing, preparing meals - or just getting around.
A reverse mortgage allows seniors to live in their home as long as they choose. With a reverse mortgage, there are no monthly mortgage payments. In addition, a reverse mortgage can give seniors tax-free monthly payments, a credit line or a one-time cash payment. To qualify for a reverse mortgage you must be at least 62 years old and own your own home or condominium.
A Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, is a Federal Housing Administration (FHA) insured loan that enables you to access a portion of your home's equity to obtain tax-free funds without having to make monthly mortgage payments. Both a reverse mortgage and a home equity loan use the equity you have built up in your home to provide you with readily available cash.
Thank you Herb for all of your patience and excellent job in explaining the reverse mortgage program and loan process to us. The loan processor was very helpful, knowledgable and kept us informed through the entire process. The first time I met Herb, I felt comfortable wtih him because I knew right away that he was a nice and honest person.
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