We Help Seniors
As people age, they may find themselves in need of extra income to cover their monthly expenses. A reverse mortgage loan can be a great solution for seniors who are looking for additional financial security in their older age. At Simple Reverse Mortgage, we specialize in helping seniors obtain reverse mortgage loans and provide them with the money they need to cover their living expenses.
A reverse mortgage loan is a type of loan that allows homeowners to borrow against the equity in their home. Homeowners can use the money they receive from a reverse mortgage loan to pay for their living expenses, such as property taxes, and home insurance. reverse mortgage loans can also be used to pay for medical expenses, home improvements, or other expenses that seniors may have.
Reverse mortgage loans can be a great solution for seniors who are looking for additional income to maintain or improve their lifestyle.
There are many benefits to a reverse mortgage loan, but there are also a few facts that seniors should be aware of. For example,
- reverse mortgage loans are only available to homeowners who are 62 years of age or older
- reverse mortgage loans must be repaid when the borrower dies, sells their home, or moves out of their home for 12 months or more
- a reverse mortgage is eligible only for the borrower’s primary or principal residence
- before being approved for the loan, HUD counseling (from an independent HUD-approved third-party counselor) is required prior to the borrower incurring any costs associated with the loan.
If you are a senior citizen who is looking for additional income, a reverse mortgage loan may be right for you. Contact Simple Reverse Mortgage today to learn more about how we can help you obtain a reverse mortgage loan. We specialize in helping seniors obtain the money they need to cover their living expenses and can answer any questions you may have about reverse mortgage loans.