This special type of loan was designed just for Seniors and is commonly called a Reverse Mortgage. The Home Equity Conversion Program is regulated by HUD (The Department of Housing and Urban Development) and is insured by the FHA (The Federal Housing Administration). You retain the title to your home and you receive any and all appreciation in the value of your home.Supplement Your Income, Stay In Your Home.
See how a Home Equity Conversion Mortgage (HECM) may benefit you.
If you are a homeowner age 62 or older, a Home Equity Conversion Mortgage, one type of reverse mortgage, may help you maintain your financial independence in the years to come. With a reverse mortgage, you can access a portion of your home’s equity. And, you can remain in your home for as long as you like, while maintaining homeownership.
A Home Equity Conversion Mortgage features:
- No income or credit score qualifications
- No monthly reverse mortgage payments
- Option of a fixed or adjustable rate
- A choice of ways to access your proceeds
You can choose either the stability of a fixed interest rate, or the flexibility of an adjustable rate, which is an open-end credit loan that allows you to pay down the balance and redraw funds. Whatever you prefer, a Home Equity Conversion Mortgage (HECM) could be right for you.
Please contact me today to discuss your reverse mortgage options. For your convenience, we also make house calls.
Reverse mortgages funded and administered by an Equal Housing Lender. Property Insurance is required, flood insurance when necessary. Borrower is still responsible for paying ongoing property taxes. Credit is subject to age and property qualifications. Program rates, fees, terms are not available in all states and are subject to change.
08-2009 PRGM-07-09-0049.L AR87396
Contact Us
Contact us today for more information.
Greg Bjornsen
Serving Southern California
(909) 225-9776
email: gregbadvisor@yahoo.com
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