You’ll find the answers to many common reverse mortgage questions here. Need to know more? Contact Us today. We’re happy to help.
Yes, refinancing is possible. This option may be to your advantage if your home increases in value, making more funds available.
Read More Back to TopA HECM is a reverse mortgage loan that's insured by the Federal Housing Administration (FHA).
Read More Back to TopYou’ll repay the loan balance, any fees that have been added, and the accrued interest. Homeowners (or their heirs) usually…
Read More Back to TopUse the proceeds for the things you need and want. For example: establishing a “rainy day” fund for the unexpected, paying…
Read More Back to TopThe funds from a reverse mortgage generally do not affect regular Social Security or Medicare benefits. However, needs-based benefits, such as Medicaid…
Read More Back to TopA reverse mortgage is a home-secured loan that’s exclusively for homeowners and homebuyers age 62 and older. It allows borrowers to convert some of…
Read More Back to TopA reverse mortgage offers certain advantages:
With the exception of a fee for government-required reverse mortgage counseling, most of the fees associated with a reverse mortgage can be financed…
Read More Back to TopThe specific amount depends on several factors, including:
Typically, reverse mortgage loan funds are not subject to income tax. Contact your tax advisor for additional details.
Read More Back to TopYou may still be eligible. Proceeds from your reverse mortgage would first be used to pay off any existing mortgage(s).…
Read More Back to TopThe loan must be paid in full when one of the following occurs:
The other borrower continues to own and live in the home — and enjoy all the benefits of their reverse mortgage.
To be eligible for a reverse mortgage, you’ll need to meet the requirements set by the federal government:
Yes, with the HECM (Home Equity Conversion Mortgage) for Purchase loan, qualified borrowers can use their loan proceeds…
Read More Back to TopProfessional, Knowledgeable, Responsive Larry was terrific. Very professional, knowledgeable and responsive.
John & Carol L — Oct 27, 2016
Larry was the Consummate Professional Larry was the consummate professional and helped to expedite this process. We had many questions and Larry always found time to answer all of them in promptly. He kept us apprised of the process and offered explanation of how our application could be viewed by underwriting. I highly recommend Larry and endorse the reverse mortgage. The process was very smooth and done in record time as we had requested. Many thanks.
Caryn U — Nov 23, 2015
Larry is the Best!! I was referred to Larry and could not be happier for the result. I had a unique circumstance, I was just out of bankruptcy and I had to save my house from foreclosure. I just got in under the time to qualify from the better limits under the old rules for a larger line of credit. Because my bankruptcy estate was not fully complete I had to get a court order from the bankruptcy judge to remove my house from my bankruptcy estate. With a time limit of 12/31/13 to close the financing, which I had to have to pay off the amount due to get out of foreclosure. Once I had the court order, Larry did a miracle in getting the paper work complete to close. I ended up closing the reverse mortgage on 12/31/13 at 12:30 pm, just 4.5 hours left in the year to close the deal! Larry saved my house and life. I can never express the amount of gratitude I have for his great service. THANK YOU LARRY!!!!!
Carl S — Jan 16, 2017
This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.
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