Special offer

Reverse Mortgages in Broward County, Florida

By
Mortgage and Lending with PS Mortgage Lending 305-791-4874 or 888-845-6630 365768

Reverse Mortgages in Broward County, Florida

Reverse mortgages, also known as Home Equity Conversion Mortgages (HECM), get a bad reputation for being the next subprime disaster waiting to happen. I beg to differ. The reverse mortgage is an available tool for homeowners, 62 years of age or older, which occupy the property as their primary residence.

What makes the reverse mortgage different from other mortgages? The borrower does not have to make monthly payments on the mortgage as the interest and service fees build up over time. Also, there is no income or credit requirement allowing those who own a home with equity, but have bad credit or a poor income, to be eligible for a reverse mortgage.

 The reverse mortgage can be used in a variety of ways:

  • It can be used to pay off an existing mortgage and therefore eliminate monthly mortgage payments.
  • To cover health expenses or renovations in the primary residence.
  • Or to provide cash on hand for surprise expenses.

Baby boomers (approx. 50 to 64 years old) make up the largest group in our country and many lost over half their savings during the recession or did not save properly. The reverse mortgage is one option to get them back on the right track for retirement without affecting those they leave behind.

Check out these real life testimonials about homeowners who have opted to get a reverse mortgage and continue to live with the benefits without the misconceptions.

Interested in a reverse mortgage or simply have questions? Give PS Financial Services a call at (888) 845-6630 or email us at info@PSReverseMortgage.com. We do not pressure those who inquire, we are simply here to help.

Changes are coming to the reverse mortgage...the time to act is NOW!

Posted by

 

 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Information and content in this blog is original to Phil Stevenson

Please click the "SUBSCRIBE TO MY BLOG" button on the right, and receive more Traditional and Reverse Mortgage information in Florida and other parts of the US & Puerto Rico.

 

Phil Stevenson

PS Financial Services

Owner and Principal Mortgage Originator

Certified Reverse Mortgage Professional (CRMP)

LO #365768

NMLS #968090

Cell: 888.845.6630

Miami Mortgages & Florida Mortgages

Copyright © 2013 by Phil Stevenson & PS Financial Services, LLC

Comments (2)

Jack O'Neal
HomeSmart Elite Group - Gilbert, AZ

Great info I have been looking for clients that can use this produxce

 

Aug 16, 2013 02:10 PM
Phil Stevenson, CRMP
PS Mortgage Lending 305-791-4874 or 888-845-6630 - Miami, FL
"Mortgage Nerd" in Miami, Florida and Texas

Jack, glad I could help. If they qualify, hopefully, your clients benefit from the reverse mortgage.

Aug 19, 2013 12:00 AM