Reverse Mortgages

There’s a common misconception that Reverse Mortgages are a scam…nothing can be further from the truth! The Home Equity Conversion Mortgage (HECM) is a FHA loan, and one of the most highly regulated mortgage products in the country. There are several safeguards built into the product to protect the homeowner.

  • Also referred to as HECM – Home Equity Conversion Mortgage
  • For homeowners 62 years of age or older
  • Creates income stream, or percentage of home equity can be converted into cash
  • Heirs are still entitled to equity after senior homeowner passes, as long as reverse mortgage is paid-off, which can be done through the sale of property or refinance
  • ‘Non-recourse’ which means any outstanding loan balance that may potentially exceed future property value will never be owed by heirs
  • Jumbo sized reverse mortgages available too

Contact Dave Kevelighan for Reverse Mortgage scenarios & pricing today!

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