Curious About Reverse Mortgages?

By
Mortgage and Lending with The Mortgage Market of Delaware

Curious About Reverse Mortgages?

If you are looking for a way to increase your retirement income, a Federal Housing Administration (FHA) insured reverse mortgage may be just what you are looking for.

A reverse mortgage allows you to access a portion of the equity in your home to obtain tax-free income. Plus, with this type of loan, there are no mortgage payments.

If you are 62 years of age or older and you have sufficient equity in your home, you may be able to get the money you need for a number of reasons such as:

·         Pay off your current mortgage

·         Continue to live in your home and retain ownership

·         Pay off debts

·         Improve cash flow

·         Make necessary repairs or renovations

·         Have funds for unexpected expenses

Applying for a reverse mortgage is very simple. For eligibility:

·         The homeowner(s) must be at least 62 years old.

·         The home is the primary residence.

·         Single family home, townhome, approved condominium or manufactured home.

The FHA Insured reverse mortgage, also known as HECM, is a safe, secure loan that lets you access your home’s equity to get cash for your retirement funding needs.

JoAnn Moore, Local Licensed Mortgage Professional, President of The Mortgage Market of Delaware, LLC. NMLS #165477. Georgetown, Delaware. Office 302-855-1306, Cell 302-236-1229 MMODJoAnn@aol.com

 

       

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JoAnn Moore

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Rainmaker
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Jack Tenold
Jack Tenold LLC - Spokane, WA
Specializing in Reverse Mortgages

Hi JoAnn....from coast to coast -- yours and mine, reverse mortgages are gaining acceptance as a financial strategy and that is wonderful for our businesses.  I am planning on reverse mortgage financing for myself in the not too distant future.  Best wishes for a strong finish in 2014.  

Dec 09, 2014 04:08 AM #1
Rainmaker
446,114
JoAnn Moore
The Mortgage Market of Delaware - Georgetown, DE
Home Loans in Delaware

Yes, I agree.  Also, I found out today that 90% of the people promoting reverse mortgages are telemarketers; not experienced loan professionals.  Best to you for a remarkable 2015.   

Dec 09, 2014 09:08 AM #2
Rainmaker
1,279,127
Donna Foerster
HomeSmart Realty Group - Parker, CO
Metro Denver Real Estate Assistant

Hi JoAnn~ We just attended a class about reverse mortgages. It's a great product that can benefit older adults.

Dec 14, 2014 12:47 PM #3
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Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Joann, a friend of mine just did a Reverse Mortgage. I need to learn more about them for my client friends who ask me. I refer them to a lender but like to have a walking understanding of them.

Dec 26, 2014 06:21 AM #4
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JoAnn Moore

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