BIG NEWS !!!
WE NOW OFFER A FANTASTIC REVERSE MORTGAGE PROGRAM
If you are 62 or older and have equity in your current residence you may be able to access that equity through a Reverse Mortgage. Since 1989, more than 16,000 reverse mortgages have been issued under this program. A Reverse Mortgage is a good option if
¨ You are a homeowner, age 62 older
¨ You own your home free and clear or have a low outstanding balance
¨ You need a lump sum or a stream of monthly income
There are absolutely no income or credit requirements. You can supplement your monthly income, improve your standard of living, meet unexpected or anticipated medical expenses, make home improvements, or pay property taxes. You do NOT make any monthly mortgage payments…..you retain ownership of your home…..the bank does not take the remaining equity when you sell.
You may access your equity in the following ways:
¨ Lump Sum: one-time payment, maximum amounts are predetermined
¨ Term Options: equal monthly payments to you for a fixed period of time selected by you
¨ Line of Credit Option: withdraw cash, as needed, as long as the home is your principal residence. Maximum amounts predetermined
OR YOU MAY CHOOSE A COMBINATION OF OPTIONS ABOVE
Please call me if you would like more information regarding this or any other loan programs we offer.
Watch for info on other programs in future newsletters !!