Seniors Guide to Important Tax Information
It’s Tax Season Again! It seems like every year there are new things to learn about the changes to the tax code, and this year
We Are Reverse Mortgage Experts
Reverse Mortgage Requirements
- Owner or spouse must be at least 62 years old.
- Must meet all FHA minimum property standards.
- Health and safety issues cleared.
- Any debt on the home must be paid off before or through the proceeds of the loan.
- Borrower must live in the home as their primary residence.
- Borrower must not be delinquent on any federal debt.
- Borrower must receive HECM counseling from a HUD approved counseling agency.
Let us show you in person, not tell you over a phone call, how a reverse mortgage can help you live the retirement you deserve
Call or Email for Instant access
We Serve North Florida And Baldwin County Alabama including:
Pensacola
Fort Walton Beach
Mobile
Destin
Tallahassee
and Surrounding Areas
Why a Reverse Mortgage?
- Create an alternative source of income.
- Eliminate any “Out of Pocket” monthly mortgage payments.
- The Borrower may remain in the home for as long as he wishes to.
- Title stays in the Borrower’s name.
- There is no equity sharing with the lending bank which means the borrower gets full advantage of rising property value.
- Purchase a new primary residence without having to pay a monthly payment to repay the loan.
- Can be applied on Condos, SFR’s, 1-4 Units, & PUD’s.
- Available with Forced and ARM Rate Types.
- For purchase and refinance.
- We offer flexible payments.
How a Reverse Mortgage in Florida Works
A reverse mortgage differs from a conventional loan in several ways. A conventional loan requires monthly payments and a down payment from the buyer to the lender upon purchase. The home equity increases with every payment until the mortgage is paid off. With a reverse mortgage, the homeowner has no payment obligations on a month-to-month basis. Because the loan is typically used to downsize or relocate a residence, the owner has access to the home equity in the previous home and can use the equity in a variety of ways: a lump sum of cash, a monthly income, or a line of credit.
A Nationwide Mortgage Licensing System
Seniors Reverse Mortgage is dedicated to abiding by all laws and precepts in Florida regarding mortgage transactions. Our knowledgeable and experienced professional, Jim C. Boswell, is a licensed nationwide mortgage professional. He will visit your home for a private consultation or will counsel with you at his office. We will never pressure you to make this important decision over the phone or by mail.
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