You decide when you pay your mortgage and how much that payment is without incurring any penalties, late fees, or negatively affecting your credit EVER.
Make your payment one month, don't make it the next. Pay half as much as your normal payment, or twice as much. With the Reverse Mortgage, you control your mortgage, not the bank.
The money you receive from your Reverse Mortgage is tax free and you can do anything you want with it.
Pay off debts, buy a new car, send your grandchildren to collage, or simply save for a rainy day. With the FHA insured Reverse Mortgage, how you use your money is up to you.
Live in your home for the rest of your life, sell it, or leave it to your heirs as part of their inheritance. Make renovations, add a room on, or whatever you want. It is your home to do with as you please.
You keep the title to your home.
The Reverse Mortgage is a FHA insured program designed to help homeowners over the age of 62 use the equity in their home.
Not as long as you live in the home for at least 6 months out of the year.
All you need to qualify for the reverse mortgage is be at least 62 years of age and have some equity in your home.
Yes! You own your home still. You can live in it, sell it, or leave it to your heirs. It is yours to do with as you please.
That depends on what you have decided to do with your home. If you have left it to someone, then they will still inherit it. They will have up to 12 months to either repay the reverse mortgage, sell the home and keep the profits, or refinance the reverse mortgage into a forward mortgage or another reverse mortgage (if they are old enough).
Continue to make your mortgage payment or don't. The freedom to choose is yours.
There is trillions of dollars of unused equity in the US. Using yours will give you more freedom to live retirement the way you always imagined.
With no restrictions on how you spend the money you receive, you have the freedom you need. Help your family, pay bills, or simply save for a rainy day.
You don't have to worry about social security benefits, Medicare, or any other entitlement. The reverse mortgage doesn't affect any of them.
Whether you make your mortgage payment in full, make a half payment, or choose not to make your payment at all, your credit is never affected with the reverse mortgage.
Not only can the reverse mortgage pay off your existing mortgage, but it can also be used to eliminate credit card debt, auto loans, personal loans, student loan debt, and more.
Call us at 866-999-7875 or fill out the form below to speak with a reverse mortgage expert today!