Healthcare and Medical Expenses
With the rising costs of healthcare coverage, a Reverse Mortgage can give seniors a financial safety net in order to pay for healthcare costs, including helping to pay for in home care.
Home Repairs or Improvements
Home repairs and updates can be costly. If you haven’t been able to afford updates or regular maintenance, a Reverse Mortgage loan could be a great option to afford those needed repairs or updates.
A Credit Line for Emergencies
Do you think having access to funds could be a smart call? By opening a Reverse Mortgage as a line of credit, you will have access to funds when and if you need them.
Improve Monthly Cash Flow
With a reverse mortgage you are not required to make monthly mortgage payments. That means improved cash flow every month. Of course, if you want to make an occasional payment, that’s okay too!
*Even though there is no requirement for monthly payment of principal and interest, the borrower(s) are responsible to pay taxes, insurance, and keep the home in good repair.
How it works
Enjoy the best Reverse Mortgage
choices from the top providers.
FIRST: Get the right information
Request more information and talk to a Reverse Mortgage expert.
SECOND: Receive a detailed plan
Know the facts as you move forward. We will review all details, options and create a plan just for you.
THIRD: It’s a painless process
Once you know your Reverse Mortgage options moving forward is not only easy, it’s rewarding.
Frequently asked questions
Q: What is a Reverse Mortgage?
Reverse Mortgages, also known as a HECM (Home Equity Conversion Mortgage), allows homeowners age 62 or over to access a portion of the equity in their homes without the requirement of a traditional monthly mortgage payment. Please note that the borrower remains responsible for property taxes, homeowners insurance and home maintenance.
Q: Who is eligible for a Reverse Mortgage?
You are eligible to apply for the HECM Loan Program if you are age 62 or older and live in the property as your primary residence.
Q: What kind of homes are eligible for a Reverse Mortgage?
The property can be a single family home, a multi-unit property (such as a duplex or fourplex) a townhome, a manufactured home or condominium.
Q: Are proceeds from a Reverse Mortgage taxable?
No. Because the proceeds from a reverse mortgage are a loan, they are not considered income to the borrower and therefore are not taxable. Please consult a tax professional for tax advice.
Q: Are there restriction on how Reverse Mortgage proceeds can be used?
No. There are no limitations on how you may use the money.
Q: How can I get more information on Reverse Mortgages?
Answer the questions to connect with a Reverse Mortgage Specialist.
Contac us! It will only take a minute
Our Team
Our team is here to help you make informed decisions
Mike Goldstein
CEO
Reverse Mortgage Specialist
CA & FL
Jamie Badgley
Reverse Mortgage Specialist
CA & FL
Edwin Baptista
Reverse Mortgage Specialist
CA & FL
Mark Rowson
Reverse Mortgage Specialist
CA & FL
