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"More than 600,000 seniors have taken out a reverse mortgage loan to improve their retirement over the last 22 years."
Watch a 2 minute video to learn the basics of the HECM reverse mortgage.
Great. I Qualify but is this the right option for me?
Reverse mortgages are not a fit all solution, they are great for seniors who need to:
The proceeds from a reverse mortgage can be used for almost anything they are never restricted.
If you are not sure if you will qualify or would like to ask additional questions first, don't hesitate to reach out to one of our knowledgble agents (the call is toll free 888-975-1367).
What is a reverse mortgage?
HECM stands for home equity conversion mortgage. Reverse mortgages allow for seniors to release a portion of the home's equity to eliminate any existing mortgage payments or to receive the cash taht is now locked in the equity. HECM's are unique in that there are no monthly mortgage payments required to find out more click this link how it works.
The Answer is YES!
Can I access my equity without making a mortgage payment or selling my home?
I will be able to receive my funds in either a – lump sum, credit line, monthly income?
I wont have any restrictions or taxes on the money I borrow?
Are HECM interest rates still at all time lows? Can I retire and eliminate my current mortgage payment?
Can I use the reverse mortgage loan to pay off other debts?
Can I use the HECM loan to avoid Bankruptcy?
Will I keep ownership of the home (not the bank)?
Will I be able to leave my home to my heirs?
Is it right that my heirs/estate are not held responsible for my mortgage debts?
Is it true that I won’t run the risk of foreclosure as long as I pay for property taxes/insurance?
Will I be able to decide whether I want an adjustable or fixed interest rate?
Are there lenders who will not charge me an origination fee or a reduced fee?
Can I avoid high upfront mortgage insurance premium with the HECM Saver?
Can I sell my home or refinance at any time?
Is it true that there are no early pre-payment fees?
I will not loose access to other government benefit such as medicare eligibility – Social Security?
Can I still qualify for the HECM loan without income or good credit scores?
Can I take out more equity in the future if I have equity at that time?
REVERSE MORTGAGE LENDERS DIRECT
Our goal is to be the smartest solution for homeowners over the age 62 who are considering a reverse mortgage. Our website is built to help you learn everything there is to know about HECM loan program. We are here to compare multiple reverse mortgage lenders and find the one which suits you best. By using our free service you will receive up to 4 competitive quotes from top reverse mortgage lenders.
If there is something that you are still not 100 percent sure about, please do not hesitate to give us a call at 888 975 1367, if you have questions dont hesitate to use our live chat feature.
Comparison of Benefits vs the negatives?
With a home equity conversion mortgage loan you have flexibility as to how you receive the proceeds. There are 3 different options:
For more information do no hesitate to contact our friendly call center staff - calls are toll free (888) 975-1367
Reverse Mortgage Lenders Direct inc. or *reversemortgagelendersdirect.com does not offer loans or mortgages. *reversemortgagelendersdirect.com is not a lender or a mortgage broker and does not provide mortgage relief assistance. *reversemortgagelendersdirect.com is a website that provides information about mortgages and loans and does not offer loans or mortgages directly or indirectly through any representatives or agents. By submitting or completing to quote form on this page or any page on this webiste you are authorizing RMLD inc to validate the information. Contact our support if you are suspicious of any fraudulent activities or if you have any questions.*reversemortgagelendersdirect.com is not responsible for the accuracy of information or responsible for the accuracy of the rates, APR or loan information posted by brokers, lenders or advertisers. The actual mortgage rate you qualify for will depend upon the verification of the value of your home, your credit score and other considerations.
*reversemortgagelendersdirect.com is not associated with the government, and our service is not approved by the government or your lender.
ReverseMortgageLendersDirect.com 3000 NE 30th Pl, Ste 203, Ft. Lauderdale, FL 33306 888-975-1367
|Tax free income (never taxed)|
|Funds may be used for any purpose – no restrictions||May impact Medicaid benefits (not Medicare)|
|Own and remain in your home (no need to sell in retirement to get money out of the home)||Reduces equity to pass on to heirs|
|No monthly payments to the lender||Pay homes taxes/insurance|
|Can never owe more than the value of your home at repayment (non-recourse loan)|
|Does not affect Social Security or Medicare benefits|
|Pays off an existing mortgage, leaving no monthly mortgage payments|
|No longer expensive some lenders are waiving origination fees also HECM saver reduces costs|
|Receive funds as a lump sum, monthly income payments for life, and/or line of credit|
|You can retire in the property for life (even if home values drop significantly)|
|No risk of foreclosure|
|Your equity now your equity in the future (you keep ownership and decide what to do with your equity)|
For even more information we suggest you review the following resources.
Main Features of the HECM reverse mortgage loan.