Reverse Mortgage
or Home Equity Conversion Mortgage (HECM)
Seniors may consider a Reverse mortgage as a retirement tool. This
is a complex mortgage product that is designed for those who
own their home or have very little left to pay on the mortgage,
and are 62+. As the homeowner,
you remain in your home while payments are made to you by the
lender. The reverse mortgage can be set up as a lump sum payment, a line
of credit,
or paid in monthly
installments.
We will need to discuss whether your home qualifies
for a reverse mortgage, what funds you can expect, and the tax
consequences of receiving payments from your reverse mortgage.
Obtaining a reverse mortgage is subject to a review by a independent third-party such as a HUD-approved agency or AARP (800-209-8085).
Helpful Links:
AARP's Reverse Mortgage Website
FHA Housing Counselor List
Contact us for a free reverse mortgage quote.
There's no obligation.
