We at Senior Reverse Mortgage Group focus exclusively on just that.catering to the needs of seniors seeking the loan instituted to enjoy the golden years when traditional mortgages are not available due to lack of sufficient income, ability to make payments. Income, assets, monthly living expenses and credit history will be verified.

This is all we do, so we are able to be knowledgeable of trends, guidelines, new products and ways to serve the senior community at our best. We have 20 years experience in the mortgage industry, and always strive to be current within the ever changing industry.

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Faq

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To qualify for a reverse mortgage, the home must be your primary residence. 1-4 family residences, condos, and manufactured homes are eligible, but vacation homes, secondary residences and rental properties are not currently eligible. However, any existing mortgages or liens on your home must be first paid off with the reverse mortgage loan proceeds before you can receive any leftover funds.

Reverse Now Or Later

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Reverse mortgages allow borrowers to access a portion of their home equity in a variety of payment options, including a lump sum, monthly installments or through a line of credit. Of all the different options, the line of credit strategy has been gaining considerable attention from financial planners largely due to its unique "growth feature."

Reverse Mtg Pros And Cons

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Boosts cash - Many seniors experience a significant income reduction when they retire. Monthly mortgage payments are the biggest expense for many. A senior with sufficient home equity, however, can refinance, pay off an existing regular mortgage, and even pull cash from the property with a reverse mortgage.

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