The equity in your home is yours to use. With a lump sum payout or fixed monthly payment, you can access your earned equity for home renovations, healthcare costs or other major expenses. Use the proceeds of your reverse mortgage to eliminate your monthly mortgage payment and free up funds in your budget.
Set up a growing line of credit as a standby safety net that can be used when unexpected expenses arise. Watch the unused principal grow over time, giving you access to more funds the longer it goes unused. Use a reverse mortgage to right-size to a home that meets your long-term goals while incurring no monthly mortgage payments on your new home loan.
Set up a growing line of credit as a standby safety net that can be used when unexpected expenses arise. Watch the unused principal grow over time, giving you access to more funds the longer it goes unused. Use a reverse mortgage to right-size to a home that meets your long-term goals while incurring no monthly mortgage payments on your new home loan.
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About
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Home is where dreams happen. It's where futures are imagined. It's part of who you are. The care you take in choosing a home is the same level of care we take in guiding you through the mortgage experience. We get it, it's not a simple process. From credit ratings to paperwork to tight deadlines, we understand what you are going through.
About
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Melinda Hipp is Area Sales Manager for Texas & Oklahoma with Mutual of Omaha Reverse Mortgage. Melinda is intent on growing Reverse Mortgage awareness for Baby Boomers, Realtors and Financial Planners. Located in San Antonio, Melinda specializes in working with senior homeowners 62 and over who would like to access the equity in their home through a Reverse Mortgage.
Reverse FAQ’s
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Why should I get a reverse mortgage instead of refinancing, financing or getting a home equity loan?. With a reverse mortgage, you do not have to make any monthly mortgage payments (homeowners must keep property taxes, insurance and HOA dues paid current and must maintain the home as their primary residence).
Resource Library
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Please use my Resource Library to keep current with information and trends within the reverse mortgage industry. NRLMA is the national voice of the reverse mortgage industry, serving as an educational resource, policy advocate and public affairs center for lenders and related professionals.
Its mission is to educate consumers about reverse mortgages, to train lenders to be sensitive to clients' needs, and to enforce the Code of Conduct and Best Practices.HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers and utilize housing as a platform for improving quality of life.
Its mission is to educate consumers about reverse mortgages, to train lenders to be sensitive to clients' needs, and to enforce the Code of Conduct and Best Practices.HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers and utilize housing as a platform for improving quality of life.
Reverse Mortgage for Purchase
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A reverse mortgage for purchase is offered to seniors wanting to purchase a home without using all their personal resources they may have gained from the sale of a previous home or from their retirement accounts. A reverse mortgage for purchase is best utilized when downsizing from a larger home to a smaller one (or moving into your dream retirement home on the coast/golf course or in the mountains).
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