What Is A Reverse Mortgage


A reverse mortgage is a loan type that is available to homeowners who are 62 years or older. It allows them to convert the equity in their home into one of the following or a combination of the three: -A lump sum payment - Monthly income - Line of credit

The product helps people that want to tap into the equity in their homes and use the money as they want to use it. This loan is called a reverse mortgage because it is the opposite of a traditional mortgage. Instead of making monthly payments to a lender, the lender makes payments to you as the borrower. You are not required to pay back the loan until the home is sold. As long as you live in the home, you are not required to make any monthly payments towards the loan balance, but you must remain current on your property taxes, homeowners association dues and insurance.

Get a Free No-Obligation Reverse Mortgage Consultation

Get a Free No-Obligation Reverse Mortgage Consultation

WHAT ARE THE SENIORS SAYING WHO HAVE TAKEN OUT REVERSE MORTGAGES?


According to an AARP survey of 1500 seniors who had obtained a reverse mortgage, is that reverse mortgages may be more practical than most realize. The following is how those 1500 seniors responded to the AARP survey:

WHAT ARE THE SENIORS SAYING WHO HAVE TAKEN OUT REVERSE MORTGAGES?


According to an AARP survey of 1500 seniors who had obtained a reverse mortgage, is that reverse mortgages may be more practical than most realize. The following is how those 1500 seniors responded to the AARP survey:

95% reported that a reverse mortgage partially to fully met their financial needs

93% reported that their reverse mortgage had a positive effect on their life

94% reported a greater peace of mind

87% answered that they had a better quality of life

89% described having a more comfortable lifestyle

100% satisfied with our customer service

95% reported that a reverse mortgage partially to fully met their financial needs

93% reported that their reverse mortgage had a positive effect on their life

94% reported a greater peace of mind

87% answered that they had a better quality of life

89% described having a more comfortable lifestyle

100% satisfied with our customer service

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Mortgage rates change daily and vary depending on your unique

situation. Get your FREE customized quote here!

Mortgage rates change daily and vary depending on your unique

situation. Get your FREE customized quote here!

Michelle Horn

NMLS# 2182635

Address

3100 W Ray Road #201 Office #209 Chandler, AZ 85226

Copyright ©2021 | The Michelle Horn Team

Licensed to Do Business | NMLS# 2182635


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This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright © 2021 | NEXA Mortgage


Corporate | NMLS ID NMLS# 1660690

Corporate Address : 3100 W Ray Road #201 Office #209 Chandler, AZ 85226

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Corporate NMLS NMLS# 1660690 | Company Website: https://nexamortgage.com

Michelle Horn

NMLS# 2182635

Address

3100 W Ray Road #201 Office #209 Chandler, AZ 85226

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Copyright ©2021 | The Michelle Horn Team

Licensed to Do Business | NMLS# 2182635


This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright © 2021 |

NEXA Mortgage


Corporate | NMLS ID NMLS# 1660690

Corporate Address : 3100 W Ray Road #201 Office #209 Chandler, AZ 85226

Corporate NMLS NMLS# 1660690 Company Website: https://nexamortgage.com