Free Reverse Mortgage PDF's
Michigan Reverse Mortgage Directory
Reverse Mortgage Specialist
Gary has been in mortgage lending for nearly thirty years.Over the years he has had the privilege of having articles published in national trade magazines, and has been interviewed on CNBC.He also had the opportunity to provide input to Congress on the FHA Revitalization Act. Read More
Gary Zimmermann
Reverse Mortgage Consultant
Phone - 262-744-3244
Email | Website
Michigan Reverse Mortgage Specialists
Welcome to the Michigan state reverse mortgage directory. We are currently accepting listings in our Reverse Mortgage Directory for each state. If you are a Michigan reverse mortgage specialist, please Contact Us for listing details and costs.
About Reverse Mortgages in MI
The Michigan reverse mortgage is a home loan that allows seniors to borrow a percentage of the euity in their homes without that money back, so long as they live in the home. The reverse mortgage product was created to assist seniors during retirement. Michigan reverse mortgages were created by HUD (Department of Housing and Urban Develepment) and are insured by the FHA (Federal Housing Administration) so they are completely safe. Please read on for some additional information regarding reverse mortgages in Michigan.
Michigan Reverse Mortgage Benefits
- >> The money you receive is tax free income
- >> No payments as long as you live in the home
- >> No credit or income requirements
- >> Reverse mortgages are supported by AARP
- >> Reverse mortgages are insured by the FHA
Michigan Reverse Mortgage Requirements
- >>Borrowers must be Age 62 years or older
- >>Own their home and have enough equity in to qualify
- >>Occupy the home as primary residence
- >>Receive counseling by an approved HUD/FHA counselor
- >>The home must be in reasonably good repair
Michigan Reverse Mortgage Payment Options
- >> Lump sum disbursement
- >> Monthly payments
- >> Line of credit
- >> A combination of the Above
Revere Mortgage Resources
We do not make loans. If there is not a licensed representative in your area feel free to inquire with HUD, or the mortgage regulatory body in your state for more information on reverse mortgages. You may also contact the National Reverse Mortgage Lenders Association, or "NRMLA" for a licensed representative in your state.
