The NEW Reverse Mortgage Better, Safer, Life Changing. Here’s the story of a pretty typical retiring American. This lovely couple came to me after trying to get approved by numerous lenders.
They did what many loving parents did. They used their life savings to help their children start a business. As the business failed they use their credit cards to try to keep it going. After selling their home and racking up credit cards and many many late payments, they had no options in a traditional mortgage world.
After I reviewed their situation and we talked in detail about the new reverse mortgage (HECM) options, I had a solution for them. They took the inheritance from there recently deceased parents and used that as a down payment on their retirement home. It wasn’t enough to pay cash for home but it was sufficient to allow them to make a down payment and secure a new reverse mortgage.
Now they have a home that they can live in for the rest of their life without the need to make a monthly mortgage payment. They even escrow their taxes and insurance so they don’t have to worry about that expense each month. All they need to do is maintain their home and enjoy their golden years.
Richard Woodward, NMLS 217454
Your Local, Direct, 5 Star Rated Mortgage Lender, Specialty Lending Manager
Office: (214) 945-1066
Service First Mortgage NMLS 166487
6800 Weiskopf Ave #200, McKinney, TX 75070
Licensed by the Texas Department of Savings and Mortgage Lending (SML) Mortgage Banker Registration. Service First Mortgage is an Equal Housing Lender. This is not an offer of credit or commitment to lend. Loans are subject to buyer and property qualification. Rates and fees are subject to change without notice. The views expressed on this site are those of the individual author and do not necessarily reflect the positions, strategies or opinions of Service First Mortgage or its affiliates.