Reverse Mortgages
What is a Reverse Mortgage?
A Reverse Mortgage is a home loan that provides the homeowner 62 or older the use of their home equity for tax-free income or to eliminate current mortgage payments. The homeowner makes no mortgage payments as long as they live in their home and retains ownership of their home. There are no income, employment or credit score requirements to apply for a Reverse Mortgage simply call 1-888-973-8377. Remember, there is no cost or obligation to find out if you qualify.
Who can Apply for a Reverse Mortgage?
To apply for a reverse mortgage, you must be 62 years of age or older and own your home. Children of seniors may request more information to help their parents apply for a reverse mortgage. Reverse Mortgage Advisers will have the literature, brochures, and educational material that should answer all your questions.
Reverse Mortgage Protection with HUD Counseling
Once you complete the application, you need to decide which payment option best fits your needs such as a line of credit, or lump sum or a combination of the two. You will also need to provide the lender copy of a deed to the home, and information on any existing mortgage, and also Social Security number and photo ID. The homeowner must receive a counseling certificate, which is provided by an approved HUD counseling agency, the counselor provides the homeowner with information regarding the Reverse Mortgage and help you determine if the loan is right for you.
Quick Overview
A Reverse Mortgage is a special type of loan used by homeowners 62 and older to convert the equity in their homes into cash. The money from a reverse mortgage can provide you with the financial security you need to fully enjoy your retirement years. Instead of making monthly payments to a lender, as with a regular mortgage, the bank makes payments directly to you or in the way of a lump sum. The money from a Reverse Mortgage can be used for anything, pay off an existing mortgage, supplement daily living expenses, home repairs medical bills and prescription drugs, pay-off debts, travel, long-term health care; prevention of foreclosure, and any other needs.
What Next?
Next is to speak directly with a Reverse Mortgage Adviser, simply call 1-888-973-8377, helpful specialists are standing bye.
Call an honest and trustworthy Reverse Mortgage Specialist at 1-888-973-8377, the call is free...
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