Reverse Mortgage

Enhance Your Financial Security

If you're looking for ways to supplement your retirement income, a reverse mortgage loan may be the answer. A reverse mortgage loan allows you to access a portion of your home's equity to obtain tax-free funds without having to make monthly loan payments. If you're 62 years of age or older and have sufficient home equity, you may be able to get the funds you need to:

  • Never make another mortgage payment while you live in your home.
  • Continue to live in your home and maintain ownership.
  • Pay off medical bills, vehicle loans or other debts.
  • Improve your monthly cash flow.
  • Make necessary home repairs or renovate your home.
  • Fund a major purchase.
  • Take a dream vacation.
  • Pursue hobbies, sports and other recreational interests.
  • Create a "safety net" emergency fund for unplanned expenses.
  • Refinance or sell whenever you want - no penalty.

Repaying the Reverse Mortgage

Repayment is not due as long as you live in the home as your primary residence, continue to pay required property taxes and homeowners insurance, and maintain the home according to FHA requirements. You or your heirs will not be required to repay more than the value of your home at the time the loan is repaid, even if your loan balance exceeds the value of your home provided you or your heirs decide to sell the home. Best of all, any remaining equity goes to you or your heirs once the loan is repaid.

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Tel: 631-360-0003
Fax: 631-574-3139
NMLS: 82064
Lending States: New York