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The New Reverse Mortgage Video with Richard Woodward
The new reverse mortgage. So much has changed in the last few years with reverse mortgages. Reverse mortgages are far safer when utilizing the FHA Government Insured HECM program.
As a licensed loan officer and certified reverse lending specialist, I can assure you that if you ever thought about a reverse mortgage, now is the time to get one.
www.mortgageprosus.com/loan-options/featured/reverse-mortgage-for-purchase/reverse-mortgage/
Reverse Mortgage
A reverse mortgages (also called home equity conversion loans or HECM) enable homeowners age 62 and older to tap into their equity without selling their home (or purchase without making mortgage payments) The lender pays you money based on the equity you’ve accrued in your home; you receive a lump sum, or a monthly payment or a line of credit. Repayment is not necessary until the borrower sells the property, moves into another residence, or passes away. When you sell your home or no longer use it as your primary residence, you or your estate must repay the loan you received from the reverse mortgage plus interest and other finance charges to the lender. Mortgage payment options are very flexible. If you want to reduce your balance then you may make monthly payments. If you don’t want to make payments, you do not ... more

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