A recent HUD and AARP report shows 93% consumer satisfaction with reverse mortgages!

The Reverse Mortgage is one of the few financial options that will provide hope for seniors to live their golden years financially stress free. 

The reverse mortgage (also known as a Home Equity Conversion Mortgage or HECM) will allow seniors 62 years and older to draw or tap the equity in their home with a government insured home loan that has minimum qualifying requirements. The reverse mortgage will allow the senior to retain ownership of their home, receive monthly payments for as long as they occupy the home. You may receive a lump sum payment or a combination of monthly payment, and credit line.  

REVERSE MORTGAGE TRUE OR FALSE QUESTIONS:

1. If I get a reverse mortgage, I will lose the title to my home? 

False: Through out the life of the loan you own your home. 

2. I have read a lot about reverse mortgages, I don't need counseling.

False: All of our programs require that you be counseled by an independent 3rd party an approved entity which includes HUD, AARP, Fannie Mae, we provide you a list in which you can choose the counselor of your choice

3. I am not allowed to hold title in my trust.

False: As long as your trust meets the lenders and/or HUD's guidelines you can retain title in your trust. 

4. If I sell my home, the bank will take part of my appreciation. 

False: The lender, like any other loan will only collect what is owed to them. Also you or your estate can never owe more than the current value of your home. 

5. I must have good credit to qualify. 

False: Credit scores are not an issue. Any outstanding loans against the home and tax liens must be paid current at closing. 

6. The older I am the more money I can get. 

True: A senior that is 80 will receive more money than a 62 year old. The loan is based on age, value of your home, and your life expectancy. 

7. I will have to pay income taxes and the loan will affect my social security benefits.

False: Reverse mortgage loans are exempt from income taxes and do not affect your social security benefits.  This money is considered tax free. 

A reverse mortgage may not be the right choice for every senior but for some it can be the difference between living from day to day to living your golden years in your home, secure, traveling, getting a newer car, securing long term health insurance or just fixing  up your home to meet your physical needs. 

We would like to hear from you today!

 Even if your loan is in default, we may be able to assist you in keeping your home. Please call us with any questions to set your mind at ease.

PROVIDING HOPE FOR SENIORS NOW.