Reverse Mortgage

Reverse Mortgage

Reverse Mortgage Loan

Are you best suited for a Reverse Mortgage?
Those aged 62 or older may want to explore the option of a reverse mortgage plan. After building equity for so many years, many choose to utilize this value to realize their retirement goals, supplement their retirement income, and get rid of monthly mortgage payments.
By entering a reverse mortgage, you eliminate that drain from your income and replace it with a new steady stream while maintaining property ownership for your heirs. All of that value that you have worked to build for so many years can now work for you and help you live out the dreams of your well-deserved retirement.

Call an industry expert with Federal First Lending at (855)-517-3388 to learn more.

What makes a mortgage “reverse”?
A reverse mortgage is as the name implies, a reversed mortgage. Eligible for those aged 62 or older, instead of continuing to make mortgage payments to the lender, the lender makes payments to the borrower based on the amount of principle equity they have built up over the years. As the borrower receives payments, the equity value in the house drops and the debt goes back up. The borrower still retains ownership of the property through this process.


Advantages of a Reverse Mortgage Loan

Some of the benefits of a reverse mortgage include but are not limited to:
No more mortgage payments
Reception of payment for stable retirement income
Retained ownership of property to heirs upon passing