REGULATED & INSURED BY HUD/FHA
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Louis Marasco | Jay Kaplan
The government regulated and insured HECM, home equity conversion mortgage, is an excellent option for seniors with 50% or more home equity that may need extra cash, monthly tax free income, a growing line of credit for seen or unforeseen expenses or... a combination of these. Available only to senior homeowners, at least one of whom is 62 years of age or older. The loan benefits:
A reverse mortgage may allow you to enjoy a more comfortable retirement while maintaining your freedom and increasing your financial security .
Also for the homeowners’ protection, reverse mortgages are designed so you cannot owe more than your house is worth, it is a non-recourse loan. The loan itself does not come due for as long as you live in the house as your primary residence and keep your property taxes, insurance and Hoa up to date and the home adequately maintained.
Together with your input and direction, we'll help create your specific financial map to help achieve your goals. We are glad to be of service...
* Homeowner is responsible for property taxes, insurance and maintenance.
** Please consult with a financial adviser.