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
My
Website: www.Lindaweilert.openmortgage.com
Open
Mortgage LLC NMLS # 2975
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