A reverse mortgage is a loan available to homeowners, 62 years or older, that allows them to convert part of the equity in their homes into cash. The product was conceived as a means to help retirees with limited income use the accumulated wealth in their homes to cover basic monthly living expenses and pay for health care.
Consider the benefits of a reverse mortgage, and learn about how a reverse mortgage can help you improve your financial position. Your Florida Reverse Mortgage Specialists.
Reverse mortgages are complex, often confusing financial products. If you or an elderly relative are even considering one, it’s important to know all of the risks and pitfalls beforehand. With that in mind, we’ve created this list of facts to help you understand what can really happen if you take out one of these loans.
Florida Reverse Mortgage Rates These rates are averages taken from data reported by the Department of Housing and Urban Development each month. Though it may not be possible for you to get the exact interest rates shown here, looking at the past few months of rates should give you an idea of what lenders in Florida should be offering you.
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Florida Reverse Mortgage. A Florida reverse mortgage is a financial solution that has grown in popularity over the last decade with our clients who are over the age of 62; it can be thought of as the opposite of a conventional mortgage, and offers financial freedom for those who qualify.
A reverse mortgage loan enables miami senior homeowners to sustain their retirement while living in the home and community they love. Contact us for reverse mortgage information and our no obligation reverse mortgage informational package. We provide reverse mortgages loans for seniors throughout Florida and surrounding area. Point Mortgage.
Reverse Mortgages: Too Good To Be True?. WHAT IS A REVERSE MORTGAGE? The most common type of reverse mortgage is known as a Home Equity Conversion Mortgage (HECM), a government-backed loan that converts your home equity into cash. You can receive a large sum all at once, establish a line of.