This site is for the person/persons that what a real discount on their reverse mortgage.
You know everything there is to know about the revere mortgage loan and you know it is for your situation, you just thought it cost to much.
Well now it cost a lot less!
How do I do it???
By setting the amount of money I make to a flat $1,997 dollar origination fee which means everyone that can do a reverse mortgage gets a discount.
This is not a discount on the service we provide, you get the same service but at a lower cost.
So fill out our online form for a free reverse mortgage quote and get your loan before the government lowers how much equity you with receive.
Cheapest Reverse Mortgage Quote Form
Just the Facts About Cashing in on Your Home’s Equity
If you’re 62 or older – and looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses – you may be considering a reverse mortgage. It’s a product that allows you to convert part of the equity in your home into cash without having to sell your home or pay additional monthly bills.
You should understand how reverse mortgages work, the types of reverse mortgages available, and how we give you the best deal.
A “regular” mortgage requires, you to pay monthly payments to the lender but the “reverse” mortgage has you receiving money from the lender which you don’t have to pay back as long as you live in your home. The loan is repaid when you die, sell, or when your home is no longer your primary residence. The cash from a reverse mortgage generally is tax-free, and reverse mortgages have no income restrictions.
Reverse Mortgage Loan Features
Reverse mortgage loan advances are not taxable, and generally don’t affect your Social Security or Medicare benefits. You retain the title to your home, and you don’t have to make monthly repayments. The loan must be repaid when the last surviving borrower dies, sells the home, or no longer lives in the home as a principal residence.
In the HECM program, a borrower can live in a nursing home or other medical facility for up to 12 consecutive months before the loan must be repaid.
If you’re considering a reverse mortgage, be aware that:
* Lenders generally charge an origination fee, a mortgage insurance premium (for federally-insured HECMs), and other closing costs for a reverse mortgage. Lenders also may charge servicing fees during the term of the mortgage. The lender sometimes sets these fees and costs, although origination fees for HECM reverse mortgages currently are dictated by law.
* The amount you owe on a reverse mortgage grows over time. Interest is charged on the outstanding balance and added to the amount you owe each month. That means your total debt increases as the loan funds are advanced to you and interest on the loan accrues.
* Although some reverse mortgages have fixed rates, most have variable rates that are tied to a financial index: they are likely to change with market conditions.
* Reverse mortgages can use up all or some of the equity in your home, and leave fewer assets for you and your heirs. Most reverse mortgages have a “nonrecourse” clause, which prevents you or your estate from owing more than the value of your home when the loan is repaid.
* Because you retain title to your home, you are responsible for property taxes, insurance, utilities, fuel, maintenance, and other expenses. If you don’t pay property taxes, carry homeowner’s insurance, or maintain the condition of your home, your loan may become due and payable.
* Interest on reverse mortgages is not deductible on income tax returns until the loan is paid off in part or whole but alway consult a tax professional.
Your Right to Cancel
All loans including reverse mortgages, give you three business days after closing to cancel the deal for any reason, without penalty.
To cancel, you notify the lender in writing. Sending your letter by certified mail, and ask for a return receipt. This documents what the lender received and when. Keep copies of all your correspondence and any enclosures.
After you cancel, the lender has 20 days to return any money you’ve paid up to then for the financing.
Get a Good Deal Here…
If you’re considering a reverse mortgage, shop around but you will get your cheapest reverse mortgage here, use the form above to see how great of a deal I offer.
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