717-207-0299
Professional Reverse Mortgage Services
Get the guidance you need!
717-207-0299
Get the guidance you need!
Immediate Estimate for your Reverse Mortgage
The Benefits of Reverse Mortgages
This material is not from FHA or HUD and has not been approved by HUD or any government agency.
*The borrower(s) must meet all loan obligations which includes living in the property as the principal residence and paying property charges, property taxes, fees, hazard insurance. The borrower must also maintain the home. If the borrower(s) do not meet these loan obligations, then the loan will become due and payable.
**We do not offer tax advice. Please consult a tax professional.
When the loan will need to be repaid, some or all the equity in the property that is the subject of the reverse mortgage no longer belongs to borrower(s), who may need to sell the home or otherwise repay the loan with interest from another source.
The lender may charge closing costs, an origination fee, mortgage insurance premium, and servicing fees (all these fees are added to the balance of the loan). The loan balance grows over time and the lender charges interest on the balance. Borrowers are responsible for paying property taxes, maintenance, homeowner’s insurance and related taxes (which may be substantial). The lender does not establish an escrow account for disbursements of these payments. A set‐aside account may be set up to pay insurance and taxes and may be required in some cases. Borrowers must occupy home as their principal residence and pay for ongoing maintenance; otherwise, the loan becomes due and payable. The loan also becomes due and payable (and the property may be subject to foreclosure, other encumbrance, or tax lien) when the last borrower, or eligible non‐borrowing surviving spouse dies, sells the home, defaults on taxes, permanently moves out, discontinues insurance payments, or maintenance, or does not otherwise comply with the loan terms. Interest is not tax‐deductible until the loan is partially or fully repaid.
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FL # MBR2309, MD # 129461, PA # 37050, VA # MC-7036
717-207-0299 44 N. Christian Street, Suite 200 Lancaster, PA 17602
Monday - Friday: 9am - 5pm EST
Saturday: By appointment
Sunday: Closed
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