The Two Most Common Questions We Get On Reverse Mortgages...

 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 principal 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.

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

24 Hour Approvals On Your Loan...

 

I wanted to let you know that we are seeing one day underwriting approvals on Conventional, VA, and FHA loans.

So, if you currently are in need of a purchase loan, or just want to get fully pre approved before you go house shopping (smart idea), then contact our office, and let us take a look at it for you.

The housing market is tight.  There is a shortage of existing homes, and as soon as they hit the market they go under contract.  …so, it’s smart to get fully approved before you go house shopping.

On another note:  If you have any interest in reading my novel, Density – here is the Amazon link for it.

That’s it for today!

Thanks for reading!

Brett

Get Pre Approved For A Loan Here
My Previous Blog

Down Payment Assistance For These Professions...

 Reminding you that if you are in these professions we have special down payment assistance options for you.

• Professional educators, which includes the following full time positions in a public school district: school teachers, teacher aides, school librarians, school counselors and school nurses
• Police officers and public security officers
• Firefighters and EMS personnel
• Veterans or active military
• Correction officers and juvenile corrections officers
• Nursing faculty and allied healthy faculty

So, if you have been putting off buying a home thinking you didn't have enough down payment, please give our office a call. You might be pleasantly surprised.

That's it for today!

Thanks for reading!

Brett

Get Pre Approved For A Loan Here
My Previous Blog