retirement income a FHA insured Reverse Mortgage loan may be the answer. A reverse mortgage allows to access a portion of your home's equity without having to make monthly mortgage payments. If you are 62 years or older and have sufficient home equity you may be able to get the funds you...
If you are in La Quinta or the Coachella Valley area, a reverse mortgage can be a viable option to help supplement your other investments during retirement.
1. Home Equity Conversion Mortgage (HECM) The most common reverse mortgage is the home equity conversion mortgage (HECM). HECMs were created in 1988 to help older Americans make ends meet by letting them tap into the equity of their homes without having to move out. ...
reverse mortgage n. A mortgage in which a homeowner, usually an elderly or retired person, borrows money in the form of annual payments which are charged against the equity of the home. American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Miffl...
REVERSE MORTGAGE RATES FOR PERSONALIZED QUOTES If you own your own home and are 62 years of age or older, you may have a powerful financial ally: The equity in your home. A reverse or home equity conversion mortgage (HECM) can provide a considerable amount of flexibility to your budget, ...
Are you interested in receiving information about a reverse mortgage? Get a free information package that includes answers to frequently asked questions along with specific scenario of what a Reverse Mortgage can do for you. Call us at (800)405-6000.
For more information about Home Equity Conversion Mortgages for seniors,hud.govhas a useful resource. Reverse Mortgage Reviews Finance of America Reverse This top-ranking reverse mortgage lender makes it a priority to earn and keep your trust. Finance of America Reverse has plenty to offer: lump ...
A reverse mortgage is a loan that exchanges home equity for cash. Using a reverse mortgage, a homeowner borrows money based on the amount of equity they currently have and pays that amount back once the home is eventually sold. It’s called a “reverse” mortgage because it eats into you...
The Home Equity Conversion Mortgage (HECM) Also known as a Reverse Mortgage, a HECM has many unique advantages for seniors age 62 or older. This HUD regulated, FHA Insured Home Loan was created specifically to help American Senior Homeowners like you by providing alternative options for maintainin...
How does a reverse mortgage work? To be a candidate for a reverse mortgage, you’ll need a considerable amount of equity in your home. You won’t be able to borrow the entire value of your home, however, even if you’ve paid off your primary mortgage. ...