Reverse
Mortgage Fast Facts
1.- At least
one of the borrowers must be 62 years and older
2.-No repayment is made until the home is sold or the owner
3.-permanently
moves out or passes away
4.-You will never owe more than the value of your home (This is a non-recourse loan program)
5.-No income
qualification, no credit qualification, no employment qualification
6.-Interest is paid at the time the loan is repaid
7.-When the
loan is due, your heirs have choices - they can repay the loan and keep the house, or sell the home and repay the loan.
8.-Social
Security benefits and Medicare are generally not affected by a reverse mortgage - consult your tax advisor.
9.-You own
your home and title stays in your name
10.-Interest rates are adjustable and can change periodically
11.-Closing
costs and fees incurred can be financed as part of the loan; there is zero to minimal out of pocket costs to you
12.-All closing costs are regulated
by FHA-HUD
Receiving your Reverse
Mortgage Proceeds
1.- All at once, in a single lump sum of cash.
2.- As a regular monthly cash annuity
3.-As a “credit line” account that lets
you decide when and how much of your available cash is paid to you.
4.- Or As a combination
of these payment methods.
No matter how this loan is paid out to you, you don’t have to pay anything back until
you pass away, sell your home, or permanently move out of your home.
Retirement should be a time for Enjoyment. Reverse Mortgages are designed to help you achieve your goals by providing
you extra tax-free cash flow to live your retirement years without the stress of worrying about money. If you own your home,
a reverse mortgage may be right for you.
Our Reverse Mortgage Consultants, are here
to help answer any questions and assist you through the process. We will gladly prepare a free analysis and loan comparison
for you with no obligation or restrictions.
Reached your CONSULTANT...
MR. HECTOR A. SAENZ SR.
via phone 1-786-273-8761.
