Your Name:
Your Email Address:
To: (Email)
Subject:
Message:
Email Preview:

Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Reverse Mortgage Myths in Calverton New York
 
The Mortgage Outlet has discovered that there a lot of misinformation and mortgage myths about Reverse Mortgages in Calverton  New York.  A reverse mortgage is a home equity loan which allows homeowners 62 years or older to convert some of their home-equity into tax-free income without having to make any repayments on any part of the loan as long as they will continue to live in the home.  The tax-free proceeds from a reverse mortgage can be used for any purposes.  Reverse Mortgages were created to enhance the lifestyle of the borrower for the rest of their life.
 
 
 
Myth # 1:  The Bank will own my home.
Fact:  Your title will not change until you sell your home and you will maintain ownership of your property. The lender will place a lien against your property just like a regular mortgage.
Myth # 2:  With a reverse mortgage, I can lose my home.
Fact:  Your home can never be foreclosed upon for not making mortgage payments as not payments are required.
Myth # 3:  In order to get a reverse mortgage, there cannot be any mortgage/liens on my property.
Fact:  As long as you have enough equity in your home base on your age and the appraised ... more

__________________________________________________
Are you on The Rain? Grow Your Network!




Spam prevention