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.

How do I qualify for a reverse mortgage?
In order to qualify for a reverse mortgage, a few things must be true, but they are all pretty straight forward. First, let’s review what a reverse mortgage is. The FHA has offered a program they call the Home Equity Conversion Mortgage which allows seniors to safely withdraw some of their home equity in their retirement years. Most people know this program as a ‘reverse mortgage’.
 
Some retirees have found this program to be extremely helpful in supplementing retirement funds from savings, Social Security and more. It is used to make needed home improvements, like modifications for mobility, for unexpected expenses like medical bills, or even to enjoy a multi-generational family vacation.
 
This loan type pays you, the homeowner, cash, tax free from the equity in your home. Special terms do apply in order to qualify for a reverse mortgage.
 
Qualify for a Reverse Mortgage with a Primary Residence
Do you plan on continuing to live in your home as your primary residence? Do you plan on this for at least 3 years?
 
These questions are important because if you answered ‘No’ to either, a reverse mortgage may not be a good fit for you. A requirement to determine if you qualify for a reverse mortgage ... more

__________________________________________________
Are you on The Rain? Grow Your Network!




Spam prevention