Reverse Mortgage Lender

What is a Reverse Mortgage?

1. It’s a special type of loan that enables individuals aged 62 or older to convert some of their home’s equity into a tax-free funds
2. Unlike traditional equity loans, you receive payments instead of making them

1. Homeowner(s) who are at least 62 years of age and occupy the property as their principle residence
2. Eligible properties include single-family homes, condominiums and townhomes, or a 2- to 4-unit dwelling
3. The home must be owned free and clear or have a small remaining balance that can be paid off with the reverse mortgage
4. No income, employment or credit requirements are required to qualify

1. To assist with providing money and/or supplement current SSI and pension funds.
2. Did not plan for retirement, hence, no monies currently and readily available.
3. Family members are unable to provide additional monthly source of needed income.
4. Unable to work
5. When relocating/uprooting to a more affordable area or location is not an option
6. Selling your home and moving in with your children is not an option.
7. When a home is paid off and the senior has dead equity in the home, using a reverse mortgage is a way to financially plan for retirement.