Reverse Mortgages

Make the most of your retirement with a reverse mortgage in your financial planning tool box.

 

A reverse mortgage can help you:

  • Meet healthcare expenses.
  • Remodel or make home repairs.
  • Consolidate credit card debt.
  • Manage daily expenses.
  • Payoff an existing mortgage to eliminate your current payment.

 

Reverse Mortgage loan qualifications:

  • Borrowers must be at least 62 years old.
  • Current home must be a primary residence.
  • Own your home free and clear or refinance the mortgage balance with a reverse mortgage loan.

 

Reverse Mortgage loan benefits:

  • Enable senior homeowners to convert their home equity into cash to be used for any purpose.
  • You always retain title to your home. Once the home is no longer your primary residence you can sell it and the remaining equity goes to you or your heirs.
  • Proceeds are tax free.

 

Disclaimer:

  • This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The homwowner is responsible for property taxes, homeowners insurance, and property maintenance. A home equity conversion mortgage is a home secured loan and must be repaid from either the sale of the house or other assets, at the borrower's choice.
  • The Mortgage Firm Inc. 921 Douglas Avenue, Suite 200, Altamonte Springs, Florida 32714. TheMortgageFirm.com

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