Texas Reverse Mortgage Questions Answered

There are myriad loans available to homeowners in need. One of the lesser-known products is the Texas Reverse Mortgage. Not every mortgage consultant knows the ins and outs of Reverse Mortgages, so it is a good idea to work with someone who specializes in Reverse Mortgage products.
A reverse mortgage is a very low interest loan [...]

How Will You Use Your Reverse Mortgage Cash?

Using a reverse mortgage after a layoff

With the country’s current economic condition, many people, including seniors, are finding themselves in the unemployment line. While it can be difficult for anybody to obtain a new job, it can be particularly challenging for seniors, as they are forced to compete with many other people for the same position.
The answer for many of our [...]

Retiring with the help of a reverse mortgage

When thinking about retirement, most people have one question on their minds: “Do I have enough money to fund my retirement?”
It’s a simple question with a varied and often complex answer. Perhaps you have a million dollars in various retirement accounts and other investments, but how do you know if it is enough? And [...]

An Income Source for Seniors 62 and Over

More and more senior citizens are using a reverse mortgage to provide extra income during their retirement. Especially in tighter economic times, a reverse mortgage is an excellent way to turn your property into cash flow.
Many senior citizens already own their home and property. A reverse mortgage takes the value of your home and makes [...]

How do I Get Started?

We will be happy to meet with you at your convenience to discuss your needs. We find the first meeting with prospective clients takes about an hour to gather the facts. It will be an hour well spent.
* Please have the information listed below available at the time the application for a Reverse
Mortgage is completed:
* [...]

Do I Still Own My Home?

ABSOLUTELY!! You retain full ownership of your home when you obtain a Reverse Mortgage. The lender has a lien against your property. Since you make no monthly payments the loan balance increases over time.
When the loan is repaid, the borrower or their heirs pay off the loan balance which consists of; the financed closing cost [...]

What Can I Do with the Money from a Reverse Mortgage?

You can use the Money that you receive from a Reverse Mortgage any way You choose:
* Use It as a Financial Planning Tool
* Supplement your Income
* Long-Term Care Insurance
* Pay off a Current Mortgage
* Travel More Frequently
* Pay off Debt, Buy a New Car
* College Tuition or Gifts to Family

What is a Counciling Certificate?

Before applying for a Reverse Mortgage you are required to meet with an independent Reverse Mortgage counselor. This counseling session will help you determine whether a Reverse Mortgage is right for you.
The counseling session can be done either on the telephone or in person. The family or trusted friends are encouraged to participate. At the [...]

How do I Qualify for a Reverse Mortgage?

A Reverse Mortgage is easy to obtain, provided that:
1. You are at Least 62 years of age or older.
2. You occupy your home as your primary residence.
3. You have substantial Equity in your home (proceeds of the Reverse Mortgage must be used to pay off existing liens or mortgages).