Reverse mortgages

Another program we are getting more inquiries about is, reverse mortgages. They are not for everyone, but again, in certain cases, they do make sense and are very beneficial. They are not credit score drive, or have dent-to-income guidelines. The big requirements are the borrower(s) have to be at least 62 years old and have some equity in their home. The older they are, the less equity they can have. With the reverse mortgage, they pay off the current loan, and possible get extra cash out, set up a line a credit or set up a monthly annuity. I can give you all of your options with a 5 minute call to me.

Leave a Reply