More on Reverse Mortgage loans from Linda Weilert

MYTH:  If I take out a FHA Reverse Mortgage, the lender will own my home.  False

Homeowners still retain title and ownership to their homes during the life of the loan, and can choose to sell the home at any time (no pre-payment penalty) as long as the borrower continues to live in and maintain the home and property taxes and homeowners insurance.

 

Hoping today finds you happy, healthy and thriving J  I just wanted to send you a quick email about the FHA Reverse Mortgage since there were some recent changes.  The FHA Reverse Mortgage continues to be a strong product for seniors looking for financial security and the FHA Reverse Mortgage Purchase program is getting stronger!!  Some things to refresh your memory:

 

·         62 and older

·         FHA Government loan

·         No Income or Credit Requirement (coming next year)

·         Unable to qualify for a Refinance

·         No longer can afford their monthly mortgage payment/ eliminate payments for life

·         Children facilitating for their parent/s

·         Never lose title to their home

·         Must occupy home

·         No pre-payment penalty

·         Wanting to enhance their retirement lifestyle

·         Achieve a line of credit that is worth more over time

·         Provide financial stability with a monthly income for as long as borrower/s reside in the property (tenure payment)

·         Examining options for long-term health care/ Great for in-homecare funding

·         Facing significant medical expenses

·         Pay for home repairs

·         Want to “age in place” remain in their home

 

Thank you for your continued support and keeping me active in your lifeJ  Please feel free to share this email with your team and networking partners.

 

You can also find me on Facebook Bay area Reverse Mortgages, LinkedIn and my website: www.Lindaweilert.openmortgage.com  

 

My Purpose is to help make seniors’ financial lives better, through the power of every connection…

 

 

 

Linda Weilert

REVERSE MORTGAGE

Open Mortgage/Branch Manager

Mobile: 408-656-3751

Fax: 408-273-6878

Serving all Bay Area Locations

NMLS: 719190

Silicon Valley Business Center

1900 Camden Ave

San Jose, CA 95124

 

http://www.linkedin.com/in/lindaweilert/

https://www.facebook.com/BayAreaReverseMortgages?ref=hl

http://www.openmortgage.com/reverse-mortgage-simplified/

My Website:  www.Lindaweilert.openmortgage.com

 

Open Mortgage LLC NMLS # 2975

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