Eligible Reverse Mortgage ?
Another great article from Forbes covering Reverse Mortgage eligibility. This Forbes article contains great information that covers the basic eligibility requirements for HECM Reverse Mortgages.
Posted on Forbes by Wade Pfau
The requirements to become an eligible Reverse Mortgage / HECM (Home Equity Conversion Mortgage) borrower include age (at least 62), equity in your home (any existing mortgage can be paid off with loan proceeds), financial resources to cover tax, insurance, and maintenance expenses, no other federal debt, competency, and the receipt of a counseling certificate from an FHA-approved counselor for attending a personal counseling session on home equity options. To read the full article Click here..
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Working with Group One Mortgage
- You will be working with a HECM Specialist whose only focus is Reverse Mortgages.
- A HECM loan is not one size fits all. Our HECM Specialist will present all of the numbers and details you need to make a sound decision.
- The opportunity to meet in person with the HECM Specialist well before the loan application. Education is key and it is important to have all your questions answered.