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investment

take our brief survey to find
out if you qualify

If you are home owner of 62 years old or older you may qualify for the benefits of a reverse mortgage

Pros of a reverse mortgage

cons of a reverse mortgage

Get cash out of your home for home remodels, needed repairs, and monthly income, and not have to make mortgage payments on the money borrowed.
If you do not have to make a mortgage payment and you receive income, you have more money to spend on other things per month. 
You can do a purchase or refinance on a reverse mortgage.
There are NO out of pocket fees to get a reverse mortgage. 
Loan proceeds that you receive from the loan are typically not considered taxable income (not tax advice; consult a tax professional). 
A reverse mortgage loan will not affect Social Security or Medicare benefits. However, it is recommended to consult a financial professional to determine the potential financial implications of obtaining a reverse mortgage loan. 
A reverse mortgage loan is a non-recourse loan. This means that neither you nor your heirs are personally liable for any amount of the mortgage that exceeds the value of your home when the loan is repaid.
If your home increases in value in the future, you may consider refinancing your reverse mortgage to access even more loan proceeds.
A misunderstood statement is that the bank owns your home. That is 100% false. You have the deed to the home and you are the owner of the home till it is sold.

Learn More

contact

investment

take our brief survey to find
out if you qualify

If you are home owner of 62 years old or older you may qualify for the benefits of a reverse mortgage

Pros of a reverse mortgage

cons of a reverse mortgage

The loan balance increases over time as interest on the loan and fees accumulate. You are essentially different the interest. That is why you do not have to make any mortgage payments. You can make mortgage payments even lump sums if you wish to. 
As home equity is used, fewer assets are available to leave to your heirs. You can still leave the home to your heirs, but they will have to repay the loan balance. Usually, the loan is paid off by selling the home. 
A reverse mortgage loan becomes due and must be repaid when a “maturity event” occurs, such as the last surviving borrower (or non-borrowing spouse meeting certain conditions) passes away, the home is no longer the borrower’s principal residence, or the borrower vacates the property for more than 12 months for medical reason or 6 months for non-medical reason (see CFPB guidance.) The loan will also become due if the homeowner fails to meet other loan obligations, which include paying their property taxes, insurance, homeowners association fees, and maintaining the property. 

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