Reverse Mortgage Six Questions and How to Get Approved in Florida
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Getting a reverse mortgage isn’t something you do on a whim. Home Equity Conversion Mortgages (HECMs), the most common type of reverse mortgages, require all borrowers to receive counseling from an HUD-approved counselor who will explain reverse mortgage options, the costs and potential consequences involved, and help determine whether other alternatives might be a better option for you.
By using a reverse mortgage, retirees are able to turn their homes into a source of revenue, providing much needed finances to supplement other income streams. Reverse Mortgages In Florida Strock and Trainer Mortgage Corporation specializes in helping seniors ages 62 and older get reverse mortgages in the Florida region.
florida fha reverse mortgage lenders for seniors If you are a Florida homeowner age 62 or older and have paid off your mortgage or paid down a considerable amount, and are currently living in the Florida home, you may participate in FHA’s Home Equity Conversion Mortgage (HECM) program.