Academy Mortgage Reverse
You've heard the term 'Reverse Mortgage', but what exactly is it?
A Reverse Mortgage, also known as a Home Equity Conversion Mortgage (HECM), is a special loan designed for homeowners age 62 and older that allows borrowers to use the loan on a purchase or refinance while still retaining FULL ownership of the property. The funds can be used however the borrower wishes with no spending restrictions, plus, there are no monthly principal or interest payments! The borrower will need to continue to be responsible for paying property taxes, homeowners insurance, property charges and maintaining the home, but THINK OF THE POSSIBILITIES!
Why Get A Reverse Mortgage?
100% of our efforts on reverse mortgages
By focusing solely on the reverse mortgage loan, we are able to design each loan to meet the specific needs of our client as well as their family. With the many changes that have been made by FHA and HUD over the past 5 years, we have seen this product become more flexible, less costly and much safer than ever before.