Steve and Lisa's Mortgage Morsels

What is a Federally Insured Reverse Mortgage?

May 11th, 2012 10:02 AM by Steve Iltis

*A special home equity plan for seniors.

*Enables you to use of portion of your home’s equity to pay off your mortgage, make home improvements, pay medical bills, go on vacation, or help with daily living expenses

*There are no monthly payments for as long as you remain in your home.

*NO credit or income requirements

*YOU maintain homeownership



Eligibility

*Must be 62 years or older

*Own your home free and clear-or having a qualifying mortgage balance

*Live in the property as your primary residence

*No personal guarantee required

Call Iltis Lending Group today to find out if a Federally Insured Reverse Mortgage is the right option for you!

Posted in:General
Posted by Steve Iltis on May 11th, 2012 10:02 AM

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