Reverse Mortgage Zone
Up until now I still remember my grandfather’s wish to have his own home. He always said he wanted a house in a quiet neighborhood where he could settle down and retire as he called it. His fears of not having his own home increased as he got into his sixties. Just before he died he had to move in with us and he kept apologizing for inconveniencing us. He used to say that he would have loved to stay on his own but never was granted a mortgage loan as a retiree.
I was surprised many years later when during the course of my studies, I heard about different options that allow seniors to keep their home. Reverse loan options are created specially for people such as my late Grandfather. He never benefited from it because he never even knew about it. There are still many people out there who would easily qualify for a reverse mortgage loan but who also know little or nothing about them.
Since then I have met many old folks lamenting about their inability to secure conventional mortgage loans to buy a home of their own. Many of them are retiring soon or have just retired and this makes it even more difficult to secure a mortgage loan. All these added to my decision in becoming specialized as a reverse mortgage broker and helping old people to have fair reverse mortgage deals.
Reverse mortgage loan plans are specifically engineered for the benefits of retirees and seniors but there are many brokers who, sweet talk the elderly people and coax them to taking their equity to invest in some risky ventures. My mortgage brokerage firm will deal in mortgages but will specialize in reverse mortgage loans for the elderly. I’ll concentrate on making my customers acquainted with pros and cons of reverse mortgages so that they may be able to make informed and wise decisions.
Here are some reverse mortgage brokers and tools that I like:
Please if you have feed back contact me.
This page was last updated on: 08.23.08