Reverse Mortgages

The Golden Years – a time to relax and enjoy your family.  A time to travel and do the things you have always wanted.  For some people though, financial burdens keep them from enjoying their retirement years.

Many retirees do not have enough social security or retirement income to live comfortably.  They are strapped financially and have constant worry about how they are going to pay their bills.

There are also many other individuals who may have enough money to pay monthly expenses, but they do not have the extra cash to spend on luxuries such as vacations, memberships and home improvements.

A Reverse Mortgage allows people over 62 years of age to take advantage of the equity they have built in their homes.  With a reverse mortgage, you can free up money to accomplish your financial goals and even pay off your existing mortgage!

A Reverse Mortgage For a Purchase

Yes, you read that right! Senior homeowners can buy a new home and have no monthly payments!

Many people think that a Reverse Mortgage is only for the home you currently live in, but it is not. Congress passed the HECM for purchase plan that allows seniors to buy a new home with a Reverse Mortgage.

With the family grown and lifestyle changes, many seniors want to move and downsize to a smaller home. By selling their current home they can take the proceeds and use all of it or a portion of it to apply towards their new home. The Reverse Mortgage for purchase will pick up the difference in a new loan and you’ll have NO MONTHLY MORTGAGE PAYMENT.

Call Legacy Financial Services to find out how much you qualify for!

For more information call us today at (888) 838-4768.
 


Reverse Mortgages – Know the Facts
  • Bank does not own your home.
  • Your home does not need to be paid off to qualify.
  • The bank cannot sell your home.
  • Credit history and income are not an issue.
  • You can use the money however you want.
  • You can never owe more than the house is worth.
  • Funds are tax-free; it’s your money not additional income.
  • Property can be up to 4 units if owner occupied.
  • Does not impact Social Security or Medicare benefits.

To Qualify For A Reverse Mortgage:

  • At least 62 years old.
  • A homeowner with equity in your home.
  • Home must be occupied as a principal or secondary residence.


Loan Programs
97% Financing Available

  • Conventional Loans
  • Jumbo Loans
  • FHA Loans
  • Fixed Rate Loans
  • Interest Only Loans
  • Cash-Out Refinance
  • Consolidation Loans
  • Adjustable Rate Loans (ARM)
  • Reverse Mortgage Loans
  • VA Loans

Deborah McNaughton

Your Mortgage Advisor for Life

President of Legacy Financial Services
Author - Radio Host - Columnist
Nationally recognized "mortgage and financial" expert
Seen on CNN, Bloomberg, Good Day NY and others

Host of the Money Manager show on KKLA 99.5FM

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