Reverse Mortgage Information

THE FHA REVERSE MORTGAGE
Things you need to know

Thank you for giving us the opportunity to provide you one of the most exciting loan products ever created.  The reverse mortgage is a government program to help those over the age of 62 by allowing them to stay in their homes with no mortgage payments.  You read that right; there are no mortgage payments on a reverse mortgage.

You may have seen commercials on television or heard about them from your friends or maybe you’ve never heard of them before.  I’d like to take this opportunity to share with you some of the features and benefits of having a reverse mortgage.

NO PAYMENTS! – Easily the best feature of the reverse mortgage is that you never have to make a payment. 

GOVERNMENT PROGRAM – Although a bank will most likely manage your loan, it’s the federal government that stands behind it.  You never need to worry about the bank going out of business or someone trying to change the terms of the loan.

COUNSELING REQUIREMENT – In order to make sure that this is the right plan for you, the government requires you have an independent third party not for profit organization review your case to be absolutely sure this is the plan for you.

GET CASH BACK – Not only do you not have to ever make payments, if there is enough equity in the home, you may be able to receive cash back at the closing.  You can choose to receive the money in one lump sum or have it spread out over a time period you specify.

NO CREDIT CHECK – Your credit does not matter.  No credit report will ever be checked.

NO INCOME REQUIREMENT – Because payments are not required, your level of income does not matter.  Even if you’re currently not receiving any income!

Are you still unsure?  Then give us a call.  We will come to your home and answer all of your questions.  We have experienced licensed loan professionals that are available to you from 9am to 10pm 7 days a week.  Call us today and get on the path to financial freedom.