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Carteret Mortgage Loan Officers have the ability to originate Reverse Mortgages. Those of you that are not up to speed with this program let me explain.
A reverse mortgage allows a senior homeowner that is at least 62 old to tap into their home's equity without having to make a monthly payment. There are many options available to the homeowner to get their money (lump sum, line of credit, monthly tenure payments).
95% of the Reverse Mortgages that are originated are non-recourse FHA loans. With most baby boomers entering retirement and most without pensions this program will become a standard in our industry.
Carteret has the tools to make you successful.
Mike Martin, CRMS
Carteret Mortgage Corp.
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