Reverse Mortgage Facts
A reverse mortgage is an attractive and appealing program for seniors aged 62 years and above
. It allows them to acquire a loan based on the equity of their home, without having to sell the place. However, you need to be careful when taking these loans because a bad reverse mortgage lender can land you in grave trouble.The process of finding a good reverse mortgage lender is similar to that of finding a good mortgage lender. When you approach a lender, you should try and ask as many questions and queries as you can in regards to the mortgage. A good idea is to do a bit of research regarding reverse mortgage before approaching the lender so that you know the right questions to ask. If the answers you get are obscure, then the lender is either trying to mislead you or he/she is not good at his/her job. Therefore, it is better to approach another lender.
The best reverse mortgage lender can vary widely according to your personal circumstances. What is right for you may not be right for someone else.
It may be that a HUD endorsed HECM Reverse Mortgage may be right for you. Typically, these tend to involve a longer and more complicated process to take one out but when you get there you have the security of knowing it is Government backed. These may seem best to some people but, others may prefer the simplicity of a non-HUD endorsed reverse mortgage from a private commercial lender.
These simple examples stress the need for you to get solid, independent advice from a trusted source who can take into account your desires and circumstances. If youre considering a reverse mortgage, shop around. Compare your options and the terms various lenders offer. Learn as much as you can about reverse mortgages before you talk to a counselor or lender. That can help form the questions you ask that could lead to a better deal.
A reverse mortgage can provide money when you need it. Make the most of your retirement with a reverse mortgage, Feel free to call us at 800-630-0650 and we have the experienced and the expert Senior Advisors to help you spend a secure and comfortable retirement in the home youve grown to love. We've helped thousand of senior homeowners solve their financial problems, it's time we help you.
Tim Jacobs
Golden Years Mortgage Solutions
Your MoneyWhen You Need It
www.GoldenYearsMortgageSolutions.com
(800)630-0650
tim@goldenyearsmortgagesolutions.com
Tim Jacobs @ Golden Years Mortgage Solutions www.GoldenYearsMortgageSolutions.com (800)630-0650 tim@goldenyearsmortgagesolutions.com Golden Years Mortgage Solutions is a reverse mortgage approved FHA Lender. Weve helped thousands of senior homeowners solve their financial problems. Our agents and brokers collectively have over 60 years of experience in Reverse Mortgage Loans and general financial services, including managers who are industry pioneers with more than 12 years of reverse mortgage experience. Our dedication to providing financial solutions for seniors is evidenced by the number of referrals that come from our existing clients.
by: Golden Years Mortgage Solutions