Welcome to ReverseMortgageConsultants.com
Who are we?
Reverse Mortgage Consultants assist senior homeowners obtain tax-free income from the equity in their homes. We also assist credit union members with this service.
What is a reverse mortgage?
It is a government-backed home loan that enables senior homeowners (62+) to enjoy their retirement with sufficient tax-free income. In short, it is a home equity conversion mortgage. It is regulated by HUD (the Department of Housing and Urban Development) and insured by the FHA (Federal Housing Administration). It allows you to live in your home and make no mortgage payments. Instead, you receive the proceeds from the equity in your home either monthly or in a lump sum. You can spend this tax-free money anyway you like. You keep the title to your home and don't have to sell it or move out.
How do I qualify?
You and your spouse must be at least 62 years of age. You must own and live in your home. We will assist you to obtain the required qualification certificate from an independent government-approved counselor. There are no credit or income requirements, and generally no out of pocket expense to you.
What does it cost?
Loan costs and fees are regulated by a government agency. Typical mortgage closing costs such as appraisal, credit report, title insurance, premium and recording fees can be financed into the mortgage, which would mean no out of pocket expense to you.
When does the reverse mortgage need to be repaid?
Upon the death of the last remaining borrower, the home passes to your heirs, and they have up to twelve months to either refinance and keep the house or sell it and keep all of the remaining equity.
How much cash will I receive?
The amount you will qualify for will depend on your age, the value of your home, current interest rates, and whether you have any remaining loan balance. The money is tax-free!
Who do I call for information?
Reverse Mortgage Consultants at toll free 1 (888) 238-9669. The process is simple and easy. Why wait any longer? Call today 1 (888) 238-9669.