REVERSE MORTGAGES

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Why is it new?

The US Federal Housing Authority (FHA) has  made significant changes in what kind of reverse mortgages they offer.

       FIXED RATE FOR THE DURATION OF THE REVERSE MORTGAGE

       LOWER COST UPFRONT TO OBTAIN THE REVERSE MORTGAGE

       MORE CASH AVAILABLE AT TIME OF SETTLEMENT

Reverse Mortgages are guaranteed and insured by  FHA. Today's Reverse Mortgage Program is endorsed by the strictest watchdog group of all for Seniors- AARP

What is a Reverse Mortgage?

It is money you and your spouse will get from the equity in your home that never has to be paid back as long as you occupy the property as your primary residence.

How do we qualify for a Reverse Mortgage?

You and your spouse must be 62 yrs. of age and reside in the home as a primary residence and have equity in the property.

There are no income requirements, no credit checks and  NO MONTHLY PAYMENTS.  

The money you receive is tax free

 It does not affect Social Security or Medicare Benefits