Reverse mortgage helps widow

By
Real Estate Mortgage Broker with Competitive Insurance of Dundee

I just heard a touching story of a recently widowed lady who was left with next to nothing.  A home paid in full and a pile of bills and funeral expenses.  Since she intended to live in the home from here on, the answer was simple.  She applied for a home equity - reverse mortgage.

She caught everything up and had access to more of the equity in her home if she ever needed it.  Talk about piece of mind!

The great thing is that, unlike the typical mortgage, the qualification process is a walk in the park.  The credit score and income are irrelevant because the senior doesn't repay the loan.  The loan is repaid after the senior leaves the home.  No payments are ever made until then!

If you need a reverse mortgage in Florida or Georgia, call Randall at 863-604-0169

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Topic:
Lending / Financial
Location:
Florida
Groups:
The FHA Mortgage Group
Tags:
reverse mortgage

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Rainer
23,626
James Graner
Residential Services: http://appraisalmo.com

Reverse Mortgage is an excellent tool for those it was intended for. I love doing those assignments, the customer is always happy and eager.

It is rough when the home is not quite up to FHA property standards. Some elderly have not been able to keep up with their homes.

January 11, 2009 11:35 PM
Rainer
42,707
Charlie Harden

Randall, this may be a Godsend to a lot of people now.  I'm 53, can I qualify?  Thanks for posting.

January 28, 2009 09:14 AM
Anonymous #3
Anonymous
Reverse Access Livedoor
March 10, 2009 05:34 AM
Rainmaker
76,119
Randall Schrader
Competitive Insurance of Dundee

Sorry Charlie, you aren't old enough.  Call me in 9 years.

September 14, 2009 02:08 PM
Anonymous
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Rainmaker
76,119

Randall Schrader

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