Reverse Mortgage Program Information
Obtaining a Reverse Mortgage
is a quick and easy process. Your income and credit rating are not a factor in the approval process! In order to qualify for
a Reverse Mortgage, you must:
- Be at least 62 years of age or older (including spouse)
- Be using the home as a primary residence
- Have
no current mortgage, or
- Have a mortgage balance that can be paid off with the proceeds
of the Reverse Mortgage
The amount you will receive from your Reverse Mortgage depends
on a number of factors, including the amount of your home's appraised value, the current interest rates, and the age of
the youngest borrower. After your estate repays the lender, the remaining equity is paid directly to your heirs. If your family
or estate wish to keep the home, a conventional mortgage can be used for repayment and any additional equity remains in the
control of your family members or the estate.
Reverse Mortgage benefits:
- No payment on the mortgage as long as you reside in your home
- No restrictions
on how you use the proceeds.
- You retain ownership to your home, not the Lender
- No taxes on the proceeds from the Reverse Mortgage
- The FHA Reverse Mortgage
is a Federally insured program
- Many flexible payment options available
The Loan is Repaid When:
- The last borrower passes away
- The home is no longer the borrowers primary residence
- The home is sold
- The borrower's transfer title of the property to someone else
Access Reverse Mortgage can provide you with all of the details that you need to make an informed decision.
To receive more of our free
Reverse Mortgage Educational InformationCall... Rep: HECTOR
A SAENZ SR. MTG/BKR
Off: 305-477-2724 / Cell 786-273-8761 / FAX: 305-477-5646
Libre de Cargo: 1-877-477-2926
HI...GUYS...!!!
