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reverse mortgages require no payments for life

I know it sounds too good to be true, but it is. 

 Use the money from your reverse mortgage for a vacation.

Shortly after I retired as a Special Agent from the United States Treasury Department in Hawaii in 2001, I learned about and started marketing HUD/FHA insured reverse mortgages called Home Equity Conversion Mortgages (HECMs). Established by Congress, the program allows you to borrow money against your home without having to make any repayments on it for as long as you live in it. If you have no mortgage, it pays you monthlyor provides a line of credit or both.  Several lenders offer reverse mortgages designed for more expensive home, over say $800,000.   The up-front cost (included in the loan) for these are generally less but the interest rate is a little more.

 

 

Make money from your home with a Reverse Mortgage

  • Borrowers must be 62 or older.
  • No income requirements. Based solely on age and home's value
  • No out of pocket costs. All closing costs are included in the loan
  • No Monthly payments. No payments as long as you live in the home. It is paid off after you sell it or both owners pass away. 100% remaining equity is paid to your heirs.
  • Low initial interest rate  for HECM of 3.73% APR with a 10-year average under 6.00% 
  • Money from the loan is tax-free and can be used for any purpose.
  • Funds can be takin in a lump sum, as a line of credit or paid monthly.
  • HECM Insured and regulated by HUD/FHA 

Free Reverse Mortgage Quote and Consultation:

Request on behalf of:

*Name:

Address:
If you want us to check the value of the home against recent sales in your area please include the correct name of the property owner and address

City:

State:  California 

Zip Code:

Phone:

*Email:

Borrower Age: Spouse Age:

Value of Home: Mortgage Balance:

Comments/Questions?

 * indicates a mandatory field


Get out and enjoy life with a Reverse Mortgage

 

 How Much Can I/We Get?

The following are examples of the approximate loan amount you could receive:

HUD’s Home Equity Conversion Mortgage (HECM)

HUD’s Home Equity Conversion Mortgage (HECM)  
The table below assumes the highest HUD county limits in CA and uses an initial interest rate of 3.73% APR for the week of 2/6/2008. To determine how much you will receive, subtract your current mortgage balance and any liens from the amount opposite your home’s value and the age of the youngest owner.  Any amount left over will be your line of credit.  Call 1 800-559-0608 for an exact amount.  

Home Value*
Age 62
Age 66
Age 70
Age 75
Age 80 Age 85
$250,000 $110,000 $129,000 $140,000 $152,000 $166,000 $189,518
$300,000 $173,000 $181,000 $191,000 $206,000 $218,000 $233,000
$362,790 $203,152 $215,034 $226,976 $243,000 $259,000 $276,206
$450,000 $210,000 $228,000 $233,000 $249,000 $266,000 $282,000
$525,000 $210,000 $228,000 $233,000 $249,000 $266,000 $282,000
$600,000 $210,000 $228,000 $240,000 $240,000 $290,000 $300,000

 

 

     
      


     Chuck Banfe, President
     ReverseMortgageOne, Inc.



ReverseMortgageOne, Inc.

Corporate Office:
2840 Adams Avenue #307,
San Diego, CA 92116

Phone: (800) 559-0608
Fax: (619) 330-2662
ReverseMortgageone@yahoo.com


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1 (800) 559-0608

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California Financial Lender's License
#603 A944

©2007 ReverseMortgageOne, Inc.
All Rights Reserved.

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