Reverse the Trend of a Mortgage

By
Mortgage and Lending with Overbrook Financial Corporation

In today's market there are many different ways to finance your next home purchase.   A reverse mortgage is one of those key ways.  A traditional mortgage means borrowing a lump sum from a bank and turning around and paying back the debt.  With a reverse mortgage the opposite happens; the "equity" is paid out to the borrower, either monthly, or in one lump sum, accumulating over the period of time, and therefore reducing the "equity."   Typically, in most cases, real estate appreciates over the time of ownership, and the owner should maintain an equity position.  Most importantly, today's reverse mortgage guarantees that the amount of the Car Shifterrepayment will never exceed the homeowner's value!  Some of the key factors:

  • Must be 62 years of age
  • No income qualification
  • You retain control of your title
  • Proceeds are tax free
  • Closing costs can be financed
  • No repayment unless you refinance or sell the home

 

Take advantage of all the various ways we (The Money Tree Financial Corporation) can help you achieve your financial goals.  Call Vito today for a free evaluation at 800 390-0035 ext.501. 

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