Reverse Mortgages

I am a former Firefighter/Paramedic and over the last 23-years, I have helped about 1000 families buy or refinance their homes. 

Reverse mortgages have become a popular financial option for older Americans who are looking to supplement their retirement income and capitalize on the equity in their homes. These loans are also called: Home Equity Conversion Mortgage (HECM)

A reverse mortgage is a type of home loan that allows homeowners who are 62 years of age or older to convert a portion of their home equity into cash flow. Unlike a traditional mortgage where the borrower makes monthly payments to the lender, with a reverse mortgage, the lender makes payments to you. The loan is repaid when the borrower dies, sells the home, or no longer lives in the home as their primary residence.

One of the key benefits of a Home Equity Conversion Mortgage (HECM) is that it can provide a source of income for older Americans. With a reverse mortgage, homeowners can tap into the equity in their home without having to sell the property or take on additional debt. This can be particularly useful for those who are facing high medical bills or other unexpected expenses.

If you’re considering a reverse mortgage, reach out to me and let me crunch the numbers for you.

The questions I can answer for you are:

• How much can I borrow with a reverse mortgage?
• What are the fees associated with a reverse mortgage?
• How does the loan repayment process work?
• What are the eligibility requirements for a reverse mortgage?
• How does a reverse mortgage affect my heirs?

With the right guidance and information, a reverse mortgage can provide the financial stability and peace of mind that many older Americans are looking for.