WHAT IS A REVERSE MORTGAGE?

For the purposes of this website, we are focusing on the main program in this industry which is the FHA Home Equity Conversion Mortgage (HECM). The first loan of this type was issued in 1989. Reverse Mortgages are a special loan that allows homeowners, who are at least 62 years old, the ability to access a portion of their equity without any repayment as long as they occupy the home as their primary residence. Doesn’t that sound great but too good to be true? Well, it is true! Are you interested in improving your quality of life during your “Golden Years”? Well, this program can do that for you. The reverse mortgage is a safe and smart financial option for many senior homeowners. Let’s find out more, see if you qualify, and help you determine if this loan is right for you! On a side note, we also offer the newer private/proprietary RM’s that have a starting age of 55 years old. Both programs are mainly similar, but each have their differences which I can review personally with you