Facts About Reverse Mortgage

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• A reverse mortgage is loan available to
  homeowners who are 62 years and older.
• The Borrower using the equity of their home for
  their needs.
• This means to help retirees with limited income
  use their homes to cover their basic monthly
  living expenses.
• There is no restriction for how reverse mortgage
  proceeds can be used.
• In reverse mortgage , the traditional mortgage
  payback stream is reversed.

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Reverse Mortgage
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Reverse Mortgage

• The lender or bank does NOT own the home
• No need of credit score requirements to qualify
  for the interest rate.
• No monthly mortgage payments are required.
• More options are available than with a home
  equity mortgage 
• Social Security and Medicare are not affected
  with this loan.
• The home does not have to be free and clear or
  have a lot of equity. 

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Reverse Mortgage Flow
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2009-2013
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Reverse Mortgage
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