Menu

Reverse Mortgage

"Keeping the American Dream Alive

 With a Reverse Mortgage"

WHAT IS A REVERSE MORTGAGE?            

A reverse mortgage is a unique loan that allows senior homeowners (62+) access to a portion of the equity they have built up in their homes without having to sell the home, give up title, or take on a new monthly mortgage payment. They always remain the sole owners of the property and any money they receive is tax free, also, there are no restrictions on how the money is spent by the homeowner.

WHO QUALIFIES FOR A REVERSE MORTGAGE?

In order to qualify for a Reverse Mortgage, A homeowner needs to be 62 or better, own the home free and clear or have a small remaining mortgage, and it must be the borrowers primary place of residence.   Since the loan is based on the equity in the home and the age of the youngest borrower the lender does not consider the borrower's income, credit or medical history to determine eligibility for a reverse mortgage.

Basic Facts of a Reverse Mortgage

• All borrowers must be 62 years or older.

• No repayment is required until the homeowner decides to move permanently or passes away.

• Borrowers will never owe more than the value of the home.

• You own your home-the lender does not take control of the title.

• Interest is paid at the time the loan is repaid.

• No Income requirements

• Social Security benefits and Medicare are generally not affected by a reverse mortgage - consult your tax advisor

• Interest rates are adjustable and can change periodically; however, this Does Not affect the amount you will receive.

• Closing costs and fees incurred can be financed as part of the loan, no money is required to put down on a reverse mortgage.

• When the borrower passes and the loan is due, the heirs have choices - they can repay the loan and keep the house, or sell the home and repay the loan.

Is A Reverse Mortgage Right for you or your loved one?

If you answer YES to any of the following questions, a Reverse Mortgage would be worth looking into:

• Do I want to live in my home as long as possible?

• Am I still making a house payment?

• Is my mortgage fully paid for or almost paid?

• Do I have substantial equity in my home?

• Am I afraid I will out-live my money?

• Are my monthly expenses getting too expensive to keep up with?

• Do I need help with medical payments or any monthly expenses?

• Am I a little worried about my financial future?

• Could my family and I benefit from extra income?

• Is there a trip I'd like to take, or something I've wanted to purchase but not been able to afford it?

• Would I like to give a portion of my estate away while I'm alive to see my kids and/or grandkids enjoy it?

AARP  AARP is very well respected by the Senior Community.  Click here to go to their web pages and read about reverse mortgage "Home Made Money"  a free consumer guide from AARP about reverse mortgages.

Counseling Click here to request a list of HUD approved HECM counselors or by calling 1-800-328-5488 you can complete an over the phone counseling session right now.

Common Reverse Mortgage Misconceptions

Request for more information  Click here and tell us what information we can provide for you...

       1)  Reverse Mortgage Resource Guide

       2)  Reverse Mortgage Booklets:

        "What every Son and Daughter should know"

        "Reverse Mortgages as an estate planning tool"

        "Fast Facts"

       3) Most current Newsletter 

Request for FREE Confidential Reverse Mortgage Estimate

Press Releases  click here to read our latest press release about Reverse Mortgages

What our clients are saying about their Reverse Mortgage.

Contact us

www.clgloans.com                     email: clientcare@clgloans.com

Copyright © 2002-2007 Capital Lending Group