Many seniors don't know about Reverse Mortgages or have preconceived misconceptions. Did you know that many programs are insured by our government? These are Home Equity Conversion Mortgages (HECM's). Most programs require you to reside in your home and be a senior 62 years or older.
- You cannot go into default because there are no mortgage payments.
- Reverse mortgage lenders have no claim on your income or other assets.
- You will never owe more than the home's value at the time of sale even if you have received more benefits than the home was worth.
- There are no income qualifications.
- You remain on title to your home and may live there for as long as you want.
- Equity from your home does not reduce your social security benefits.
If you know of a senior struggling to make mortgage payments, please send them a copy of this newsletter. It might just change their life for the better.
Request your free copy of my 9 page outline of reverse mortgage programs. Greg Zaccagni @ www.SeniorMortgageLender.com
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