Many homeowners have found that a reverse mortgage is a great way for them to take advantage of the equity they have built up in their homes.
A reverse mortgage is different than a traditional mortgage. With a traditional mortgage you make monthly mortgage payments, but with a reverse mortgage the lender pays you money through monthly installments, a one-time lump sum payment, a line of credit or a combination of a line of credit and monthly installments. The money that you receive is dependent on your age, the value of your home and any outstanding liens you have on your property.
One of the great advantages of a reverse mortgage is that you are not required to pay the loan back until the home is no longer your primary residence. Another great feature of a reverse mortgage is you can never owe more than the value of your home. No matter what.
Senior management Group specializes in helping seniors obtain reverse mortgages.
Unlike other mortgage companies, we offer a free, in-home consultation with you and your family members. We protect your personal information, and make sure you fully understand the process so you can make the right decision for you and your family.
Check out these pages for more information about reverse mortgages.
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