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​​Reverse Mortgages

Reverse Mortgages

 

A reverse mortgage is a home loan that homeowners at least 62 years of age can obtain to access the equity in their home.

Reverse mortgages are called such because you borrow money from a lender and the lender makes monthly payments to you, rather than making monthly payments to the lender. A lump sum option is available as well. All interest is paid at the end of the loan, rather than at the beginning.

  • Strengthen your personal and financial independence
  • Help pay for healthcare or other needs
  • You can never lose your home in foreclosure as long as you maintain the property tax and insurance payments, and any homeowner's association dues
  • The loan is only paid or required to be paid when the house is sold by you or your heirs, or all applicants move out of the house
  • A reverse mortgage does not affect your Medicare or Social Security benefits
  • No income requirements: the homeowner does not need to be employed and the loan is not qualified based on income

For more information and a consultation, contact one of our reverse mortgage specialists:

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