Reverse Mortgages

A reverse mortgage is a way for borrowers age 62 or older to unlock the equity in their home by turning it into tax-free cash without having to make any monthly mortgage payments. While loan proceeds are not taxable income, property taxes must be paid.

With inflation coming to an all time high, making it harder to make ends meet, it benefits to use the largest asset you have (your home). Living off the equity of your home to pay your living expenses and bills, while also not having any mortgage due each month, can be a life saver for many in today's economy.

Reverse Mortgages empower you to save more money in your IRS asset accounts and not get taxed every time you need to pull money to pay living expenses.

Reverse Mortgage Benefits...

Reverse Mortgages do NOT Require Repayment Until...
- The Last Living Borrower Permanently Leaves the Home
- The Borrower Chooses To Sell The Property
You NEVER Owe More Than The Home Value!!

Contact Me To Get Approved

Qualifications

The borrower on title must be 62 years or older (a non borrowing spouse may be under age 62)
The home must be the borrower’s primary residence (Must live in the home for more than 6 months out of the year)
The borrower must own the home and meet the financial requirements of the HECM program

Ways To Use A Reverse Mortgage For Retirement Planning

Delay Social Security benefts and let investments grow
Protection from investment downturns
Grow retirement funds with the HECM Growing Line of Credit

Property Eligibility

One- To Four-Unit Properties
Manufactured Homes
Double Wide Built After June 15, 1976
Condos - Must Be FHA Approved PUDS
Townhouses Properties Held In A Living Trust - Not Available In Texas

Who Should Consider A Reverse Mortgage?

Those who need access to a Non-Recourse Line of Credit for Liquidity
Guaranteed Growth on a Line of Credit
Needs Asset Protection
Needs Long Term Care Insurance-Can’t seem to be able to afford it 
Roth Conversion
Those struggling to pay daily living expenses
Those pulling from their IRS asset accounts to pay their bills and living expenses