You may qualify for a
Reverse Mortgage.

Improve your

retirement

With a

reverse mortgage

FHA Reverse Mortgage

A reverse mortgage or HECM (Home Equity Conversion Mortgage) is a loan that provides senior homeowners with access to their homes equity. It is not repaid until the borrower decides to sell, refinance, vacate, or passes away. The Federal Housing Administration (FHA) termed HECM and with their programs have increased the popularity of the reverse mortgage.

With an insured FHA reverse mortgage a borrower can not be forced from their home. In the event the borrower passes away and the amount owed on the home is greater than the value of the home... the MIP (FHA insurance) covers the difference.

A counseling session is required by the FHA for any senior that wishes to participate in a HECM or reverse mortgage. A certified HUD professional will administer the session. Understanding the all the implications of a reverse mortgage or HECM is a key cornerstone with the FHA. Either your reverse mortgage loan officer can provide you with a list of approved counselors or to find a counselor near you, visit the FHA Counseling Agency List or call 1-800-569-4287..

The FHA's HECMs are reverse mortgage loans provided by commercial lenders under FHA guidelines. Other than the mandatory counseling required by the FHA to be eligible for a HECM you must be at least 62 years of age and your home is your primary residence.

The amount that you can take out is based on: the lower of either the homes appraised value or the FHA loan limit for your area, current interest rates, and the age of the borrower(s). The more equity you have in your home and the older you are the more you can take out. Get a general amount from AARP calculator.

TO MAKE IT SIMPLE THE BEST WAY TO IMPROVE YOUR RETIREMENT IS TO
UTILIZE A REVERSE MORTGAGE. THE REASONS ARE SIMPLE AND ARE AS FOLLOWS.

  • Stop Paying Your Monthly Mortgage Payment
  • No Medical Requirements
  • No Income Requirements
  • No Credit Requirements to Qualify
  • Stop Worrying About Mortgage Payment and Increase your Cash Flow
  • Title Remains in Your Name as Long as You Live in the Home
  • The Lender Pays the Homeowner TAX Free Payments "REVERSE MORTGAGE"
California Real Estate

Improve Retirement (949) 732-0342

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