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About Reverse Mortgages
Helping you Connect To The Right Reverse Mortgage Lender For Your Specific Needs
Are you thinking of getting started on your dream retirement? We understand that figuring out how reverse mortgages work can be challenging. You can rely on the experts at My Reverse Mortgage Assistant to help educate you on basic information about what reverse mortgages are so that you can decide if it is right for you. We take the time to make sure you understand the process and ask you the right questions to understand your needs. If you feel a reverse mortgage is right for your needs, at ZERO cost to you, our experts will connect you with a Lender that is licensed in your area to complete your reverse mortgage for you.
It is our goal to ensure that before you speak to the lender, you are prepared to ask the right questions to the loan officer and prepared to answer theirs..
Understanding Reverse Mortgages
A Reverse Mortgage is a loan. It is not free money and it will need to be paid back.
The Reverse Mortgage process can be very easy if you work with a knowledgeable and seasoned Lender
Each person has a unique set of circumstances and it is important to identify which type of Reverse Mortgage is best for you
Licensed Lenders all have rules they must adhere to for your protection. Make sure to work with a Licensed Lender.
Is a Reverse Mortgage right for you?
If you are looking for a short-term loan, a reverse mortgage may not be right for you. In some scenarios, closing costs and insurance premiums may make it an unviable option. However, if you are planning to remain in your home and need extra cash flow to do so, a reverse mortgage could be the right option for you!
can your home help you retire comfortably?
- At least one of the homeowners should be minimum 62 years old.
- The home must be your primary residence.
- The home must be either a single-family home, two to four-unit owner-occupied home, townhouse, approved condominium unit ( Certain manufactured homes may quality)
- The applicant must attend an educational HUD-approved counseling session by phone or in person.
- The applicant must continue to pay future property charges such as property taxes, homeowners insurance etc.