For those that are 62 or about to turn 62, there is a new to assist your "seasoned" clients purchase a new home. A Home Equity Conversion Mortgage for purchase is;
1.) FHA insured reverse mortgage
2.) allows a simultaneous transaction of a new purchase and obtain a reverse mortgage for no monthly payment
3.) allows a down payment and other assets to purchase the new home.
This weekend I plan on assisting a young lady with this type of loan. it will be first endeavor into this area so I look forwarded to learning more.
www.akilsellshomes.com
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