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Newsletter
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Reverse Mortgage Reverse Mortgages are becoming more popular every year. Last year the volume of Reverse Mortgages increased over seventy percent. Almost everyone seems to have heard of this program, but there are not many details readily available. A few of the highlights are:1. The youngest homeowner must be at least 62 years old. 2. There is no limit on the use of funds received from a Reverse Mortgage. (Borrowers are using the funds to help pay for health insurance, eliminate an existing mortgage payment, make home repairs, increase their standard of living or for special things like travel, etc.) 3. The Reverse Mortgage Program allows the borrower to remain in their home without making payments. 4. Reverse Mortgages do not require repayment until the borrower moves out or passes away. 5. Borrower and heirs retain any equity in the home.
To view a summary of available Reverse Mortgage options or calculate payments, click here.
If you would like more information regarding Reverse Mortgages you are encouraged to contact Ken Zaruba at |
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