Reverse Mortgage

A reverse mortgage frees up your equity so you can use it now, when you need it most. Some people simply want to live without the worry of next month’s mortgage payment threatening their financial well-being. Others need cash to meet the expenses of medical bills or independent living assistance. Still, others need a little extra to pay for home renovations, a new car, or to take that vacation they’ve always dreamed of – the choice is yours.A reverse mortgage frees up your equity so you can use it now, when you need it most. Some people simply want to live without the worry of next month’s mortgage payment threatening their financial well-being. Others need cash to meet the expenses of medical bills or independent living assistance. Still, others need a

 little extra to pay for home renovations, a new car, or to take that vacation they’ve always dreamed of – the choice is yours.

  • No more monthly mortgage payments. (You must maintain your property taxes, homeowners insurance and association dues, if applicable – must remain current).
  • Set aside TAX FREE funds
  • You can chose to get tax free monthly installments.
  • Are you in a Trust, or have a will in place?  No Problem

Provide for Yourself a Piece of Mind

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A reverse mortgage allows seniors to access the equity they’ve built up in their home. If one of the owners of your home is 62 or older, you may qualify for a reverse mortgage to eliminate your current mortgage payments and receive extra cash. You have full control over how to use reverse mortgage proceeds. The mortgage is a non-recourse loan, meaning the borrower will never owe more than the home is worth. With your passing, your heirs can choose to sell the property to pay off the loan, or refinance the entire amount of the existing mortgage balance, regardless of the home’s appraised value.

Seniors only need to repay reverse mortgages when the last surviving borrower sells the home or permanently leaves the residence. Until one of these conditions is met you live in your home and make no payments. Your annual obligations include property maintenance, property taxes, and insurance payments.
Reverse Mortgage


Frequently Asked Questions

What is a Reverse Mortgage?

A reverse mortgage is a FHA government insured loan program which allows seniors take advantage of their equity that has accumulated in their home.

Will I still own my home with a reverse mortgage?

Absolutely. The home remains in your name and all existing retirement plans such as wills and trusts that you have created to benefit your heirs remain in place.

Is there any risk of losing my home?

If you fulfill all your obligations, then no. The obligations for a reverse mortgage are that you continue to pay your property taxes, insurance, and keep basic maintenance and repairs. If you do not uphold these responsibilities, the loan becomes due, which may mean the selling of the home to pay the loan. If you uphold these responsibilities and obligations as agreed, you will not lose your home. These are the same responsibilities that you have on your existing home loan.

How does a Reverse Mortgage work?

FHA reverse mortgage works much like a regular FHA mortgage with one very important difference, there are no payments due on a reverse mortgage. The payment that would normally get applied to the regular FHA loan merely gets added to the balance of a reverse mortgage.

How much money do I qualify for?

This simply depends on the equity of your home as well as your current age of the younger homeowner.Call one of our reverse mortgage expert at 1-800-872-5063 to find out what you qualify for!


Buy a home with no mortgage payments!

Are you thinking about selling your current home and downsizing to simplify your retirement years? It’s simpler then you think. Let All Home Lending, show you how you can buy that perfect home for your retirement years without ever having to make another mortgage payment. With one lump sum down payment you can purchase the home of your dreams, eliminate any future mortgage payment Do you have the down payment but concerned about the mortgage payments? If your answer is YES, then let a reverse mortgage loan expert at All Home Lending. Let us show you how to put those concerns to rest.

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