Randi & Randi Hispanic Reverse Mortgage Brokers.


Randi and Randi

Randi & Randi Reverse MOrtgage Lenders.

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Randi & Randi Reverse MOrtgage Lenders.

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Randi & Randi Reverse MOrtgage Lenders.

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Randi & Randi Reverse MOrtgage Lenders.

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Reverse Mortgage

Randi & Randi Reverse MOrtgage Lenders.

Our Target Clients The Hispanic Community

Randi & Randi Reverse MOrtgage Lenders.

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Reasons to Go Reverse Mortgage 

Reverse mortgages are fast becoming a favorable choice for seniors who have attained age 62 and own and reside in their home. Reverse mortgage loans are special designed loans with a lot of attractive features for seniors. Most people who are above 62 years of age, which by the way is the mandatory minimum qualifying age for reverse mortgages are retired with limited or no source of income. Yet at this age their needs and uses for money does not dry up in proportion as does their sources of income.  

Old people still need to pay various forms of tax, make repairs and renovations on their homes, pay for food, clothes, recreation, medical expenses and a whole lot of others things. By taking a reverse mortgage loan, seniors can access a steady monthly income that would help take care of such expenses and improve their standard of living. Most seniors lock up themselves in despair and the belief that having low funds must be their lot for the remainder of their life. However, this does not have to be the case as all they need to do is avail themselves to a reverse mortgage loan. You would not need to make monthly repayments neither do you risk losing the home as long as you reside in it.

An HECM loan works by reversing the equity of your home. These are reverse mortgages backed by HUD and the FHA. If you have paid up for your home mortgage that means that you have worked to pay and own your home. At your old age you can now make your home work and pay you. The loan reverse the home equity and then the funds are allocated to you in fixed monthly payments. You can also access the funds as an open line of credit or a combination of an open line of credit and a fixed monthly income. The choice is yours as well as what to do with the money. You could use it to repair and renovate your home, pay for medical bills and whatever else may catch your fancy.