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WHAT IS A REVERSE MORTGAGE?
A Reverse Mortgage allows a senior homeowner (62+) to exchange a portion of the equity in their home for a Tax Free Income. A Reverse Mortgage has NO Monthly Payments required for as long as you live. A Reverse Mortgage provides Tax Free Cash that can be used for any purpose. With a Reverse Mortgage you retain the Title to your Home. That means with a Reverse Mortgage you can sell your Home at Anytime. A Reverse Mortgage allows you to receive the Cash in Monthly Payments, A Lump Sum, A Line of Credit, or a Combination of the above. A Reverse Mortgage does not affect Social Security and Medicare. With a Reverse Mortgage there are No Income, Credit or Health Qualifications.
THE PROCESS OF A REVERSE MORTGAGE
- Educate yourself about a Reverse Mortgage.
- Get a free information package about a Reverse Mortgage.
- Speak with a qualified lender about your option of a Reverse Mortgage.
- Consult a trusted family member or financial advisor about the benefits of a Reverse Mortgage.
- Schedule a counseling session with a third party, non-biased counseling group about a Reverse Mortgage.
- Upon reaching a decision to pursue a Reverse Mortgage complete an application with a qualified Reverse Mortgage Specialist.
- The Reverse Mortgage Specialist will begin the underwriting process by ordering an appraisal, title work, and other related documentation.
- The Reverse Mortgage is submitted for final approval and then is scheduled for closing at a location convention for you.
- At funding of the Reverse Mortgage you receive your Tax Free Cash.