Reverse Mortgages are for homeowners age 62 and above. Equity can be taken from your home without selling it and no repayment is ever made as long as you are still living in the house!
 
There are no credit requirements and your current mortgage is paid off in full automatically! Most of these programs are insured by U.S. Gov't (FHA). Proceeds (equity) may be used however you see fit. Some common uses of a Reverse Mortgage are to payoff the current mortgage, use as retirement income, finance long-term care, make home repairs, take a vacation, or avoid foreclosure.  

HECM for Purchase is buying a buying a home with a Reverse Mortgage. Seniors are eligible to use a reverse mortgage to purchase a principal residence as part of HUD's "HECM for Purchase Program."  Click to read examples. Call 1-866-254-1424 or email for more information.

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All Reverse Mortgages are not created equally

Are you spending your retirement income too fast? Having trouble paying your bills each month? Are you facing foreclosure? Maybe you’re interested in opening a small business in your retirement years?

If you answered yes to any of these, a federally-insured Reverse Mortgage could be the key to your prosperity. With the economy the way it is, many people from all walks of life are now taking advantage of Reverse Mortgages. By now most homeowners have some idea of what a Reverse Mortgage is, but many don’t know until I meet with them, that all Reverse Mortgages are not exactly alike. Even though there is a very specific framework set by the FHA (Federal Housing Administration) & HUD (Housing & Urban Development), there are subtle differences in Reverse Mortgages that could mean thousands to you!

FHA Reverse Mortgages can be based on a fixed-rate or adjustable rate LIBOR index interest rate. These factors fluctuate from week to week, and can make a difference in how much of your home’s equity will be available. In today’s economy, you will find it is important to look at the various options that are available from Reverse Mortgage lenders.

When I meet with clients, I take the time to explore and explain all available options from various lenders to ensure that my clients are not only receiving the best options available, but to also ensure that my clients are well advised on the Reverse Mortgage that will give them the most from their home’s equity. Many times making these comparisons will save clients thousands in money; and it could mean the difference between meeting their personal financial expectations or not.