Two Most Common Reverse Mortgage Questions...

 

I wanted to address the two most common questions that I get regarding reverse mortgages…

Question: What happens if I die? Will the lender be taking my house?

Answer:   No. After You Pass Away, Your Heirs May Pay The Loan Balance In Full With Cash Or By Refinancing The Debt And They Can Keep Your Home.

Question: What happens if the loan balance becomes greater than the value of my home?

Answer:  No Matter How Large The Loan Balance Becomes,  You Have The Right To Continue To Live In The House. The Lender Cannot Take Over Your Home As Long As It Is Your Principle Residence. Besides, You Will Never Owe The Lender More Than The Value Of Your Home. HUD Will Pay The Shortage For You If There Is Any.

If you or someone you know has questions about reverse mortgages please have them reach out to our office.  We’ll be happy to help them!

That’s it for today!

I hope you have a great day! Thanks for reading!

Brett

Get Pre Approved For A Loan Here
My Previous Blog

You Paid Cash For Your House, But Now You Need Your Cash Out...

 If you purchased a home using your own cash, and now would like to pull your cash back out – we can do that.

This type of loan is called ‘delayed financing’.  …and, you can get your cash back out of the house.

In fact, we do these types of cash out loans up to three million dollars.  Many companies won’t lend cash out over 500k, but we do!

…so, if you are in need of a loan like this – shoot us an email or give us a call.  We can help!

That’s it for today!

Thanks for reading!

Brett

Get Pre Approved For A Loan Here
My Previous Blog

No Money Down Home Buying - How...

 

The bad news is that according to Redfin, 38% of U.S. renters don’t believe they’ll ever own a home, up from 27% a year ago.

35% of renters noted the ability to save for a down payment as a major hurdle preventing homeownership.

The good news is that we have a solution.  We have many no down payment options down to a 600 credit score for you!

If you or someone you know needs help with a down payment, reach out to our office and let’s see if we can help you.

 

That’s it for today!

 

Thanks for reading.

 

Brett

Get Pre Approved For A Loan Here
My Previous Blog