Member National Reverse Mortgage Lenders Association
Since
the Reverse Mortgage income is secured by the home, poor
credit is ok.
No matter how bad the credit score is it does not impact qualifying for
a
Reverse Mortgage.
Reverse
Mortgages are never taxable. No one will ever be required
to pay taxes on any
money received.
You
get rid of your monthly mortgage and you get to keep
your home...
Want the complete answer?
We can help you understand what
you can personally expect to receive with a reverse
mortgage. Using only a reverse mortgage calculator to determine your benefits
does not tell you everything you may be entitled to. The truth is that there
are several different things that can happen:
Your Mortgage will
be paid off
A lifetime monthly income may be established
A cash reserve account may be established
A lump sum payout may be established
An accelerated term income may be established
There are several ingredients
that determine your personal situation:
The ages of all homeowners on title
Where you live geographically (zip code)
The current interest rate
The approximate market value of your home
The balance owed on the mortgage
At New Horizons Reverse Mortgage we want to give you the complete answer.
Simply provide the information requested and email it to us at
info@newhorizonsreverse.com and
you will be provided the comprehensive Quick
Answer Guide within 6 business hours.
Please Submit:
The names of all homeowners and
their birthdates and your home's information.
Equal Housing
Opportunity. Licensed Real Estate Broker, CA Department
of Real Estate.