Reverse Mortgages. Yes, the word may strike fear in the hearts of many, but the Reverse Mortgages we may have been familiar with in the past, ... are now a thing of the past. Reverse Mortgages are now only allowed through the Federal Housing Administration, and very carefully monitored. In fact, as a Mortgage Professionsl, I can not even lift a pen to take an application for someone, until they have received their "Reverse Mortgage Coulseling Certificate" from a HUD sponsored Counseling Agency.
Here are some highlights of the Reverse Mortgage: -The senior and then the trust always maintain Title of the property. - Depending on the available equity, seniors can receive a guaranteed amount of money for as long as they stay in the home to use for whatever they want, and never have to make a mortgage payment for the rest of their lives.
These are just a couple of the many benefits associated with an FHA ensured reverse Mortgae, ..
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Here are some highlights of the Reverse Mortgage:
-The senior and then the trust always maintain Title of the property.
- Depending on the available equity, seniors can receive a guaranteed amount of money for as long as they stay in the home to use for whatever they want, and never have to make a mortgage payment for the rest of their lives.
These are just a couple of the many benefits associated with an FHA ensured reverse Mortgae, ..
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