Reverse Mortgage Home

Do you own a reverse mortgage home and need to know what you can do with your reverse mortgage home? There are many different options for a reverse mortgage home and what the owner can do with their home. If you own a reverse mortgage home and are over the age of 62, you can do a lot to help you with your retirement as well as other things that life brings you.

The benefits of a reverse mortgage home are countless for someone nearing the age of retirement and needing to make ends meet. With age, life can bring problems that you may need extra money to be able to deal with it. If you own a reverse mortgage home you can use the extra money to be able to deal with medical problems, or even to have an extra salary to help you with your retirement.

Reverse mortgage programs protect seniors. HUD created one of the first reverse mortgage programs known as the HECM HUD reverse mortgage program allowing seniors to access part of their home equity using this special HUD reverse mortgage loan. Some HECM HUD reverse mortgage safeguards are as follows:
* Three day reverse mortgage rescission period
* No reverse mortgage maturity date
* No reverse mortgage prepay penalty
* No shared reverse mortgage appreciation
* Caps on reverse mortgage fees and rates
* It’s an FHA/HUD guaranteed reverse mortgage
* This HECM reverse mortgage is not due and payable until borrowers move out
* HUD reverse mortgage allows a lump sum payout
* HUD reverse mortgages can be use for any borrowers needs
* HUD reverse mortgage payments can be received over a term, all cash, or reverse mortgage line of credit
Age 62 plus is the eligible age. HUD reverse mortgages are used on single family, condos, and multiple units.

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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