A Reverse Mortgage can be a tool that is used to repair the unexpected things that happen in our lives. You know how the AC always seem to break at the start of Summer and plumbing, it has no season in Florida. The summer sun, although beautiful does a job on our roofs
Gradual or unexpected medical costs can jeopardize a financially stable home. The feeling of being able to live their lives out in familiar surroundings, among all the good memories from years past may be lost.
Wouldn't it be nice to have a pile of cash sitting there that we can just go to and pay for whatever is needed. Well most Seniors that own their home have just that. It's called a Home and it has Equity.
A home's Equity is considered a NON preforming asset. The only way that you can access it is with some type of Mortgage or sell it.. Sell it, NO WAY I'm staying here till I die, is what I here a lot. Right now the Real estate market is not where we would like it to be. Sales are flat and home values are declining in most areas.
What to do? we could get a forward Mortgage, can we qualify at our age? We would have to make payments.. That would be like borrowing money to pay it back ? I don't think that would work.
We could get a Forward Equity line of credit. That would be easier to qualify for. Still there are the payments and our home is at risk.
A Reverse Mortgage would fill the bill as it allows access to the equity in the home and there are NO payments to be made. Qualifying is easier as there are no income requirements. You maintain ownership of the home so you may sell it if you wish and the "Bank" can't take it away for non payment.
Reverse Mortgage Counseling
To qualify for a U.S. Government-insured reverse mortgage, a borrower must receive reverse mortgage counseling from a counseling agency that is approved and certified by the Federal Housing Administration (FHA). This is done for your benefit.
The counseling session, required by FHA should be scheduled after we talk and I have answered all your Reverse Mortgage questions. I can help you schedule your session at a convenient time for you. The counseling can be done in person or over the phone. Once the session is completed, you will receive an FHA Certificate of Counseling in the mail..
Most Counseling agencies will fax a copy to me, with Your request and approval.
Once you receive your certificate, please sign it and forward the original signed copy of the counseling certificate to me at My Florida Reverse Mortgage so that I can include it in your loan application package if you choose to move forward in Reverse.
This would fulfill the FHA requirement.
Fax # is 727 593 1474
Address is
My Florida Reverse Mortgage
Attention Jim Saeger
9695 134th Way No.
Seminole Fl 33776
