Reverse mortgages are an excellent solution to financial concerns for many seniors across Florida. However they are not for everyone and applicants should be confident that they understand the negatives as well as the positives prior to signing up for a reverse mortgage...
To be eligible for a Reverse Mortgage the borrowers must:
The Reverse Mortgage Loan is based on:
Reverse mortgages can be used to:
What is the process like?
Unlike traditional loans there are no monthly payments to be made during the lifetime of the loan. The debt from the reverse mortgage becomes payable in full immediately when:
Upon the death of the borrower/s the loan will be repaid from the sale of the home or by refinancing the existing reverse mortgage. All of the remaining equity belongs to the heirs or to the estate.
Reverse Mortgage Counseling
Counseling information for reverse mortgage applicants typically takes 1-4 hours.
The counselor must be employed by a 3rd party non-profit or public agency that is approved by the HUD (US Department of Housing and Urban Development). The counselor is required to use loan analysis and comparison software which follows the HUD’s counseling policies and procedures.
Also, please remember:
Our services have been designed to remove the stress and misunderstandings commonly associated with reverse mortgages and reverse mortgage purchases
If you have any questions or would like further assistance please contact us directly and we will try our very best to help wherever possible. CLICK HERE to request your FREE guide to Reverse Mortgages.
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 1299512
111 N. Belcher Rd Suite 203A
CLEARWATER, FL 33765
Phone: (727) 388-5235
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