Welcome to the FREE Reverse Mortgage Business Network and Directory
Looking for a local Reverse Mortgage service or business professional but don't want to risk picking a random name out of the phone book? Our Reverse Mortgage Business Directory and Reverse Mortgage Business Network consists of members who agree to provide top quality service at competitive prices. You can use the form below to search for a specific business, or post your job in the category section down below and get multiple bids from local Reverse Mortgage professionals. (Reverse Mortgage Business Professionals please scroll down)
Need a Local Service?
Get Free Multiple Bids from Local Professionals and Save Money! (1) Choose a category (2) Describe what you need (3) Get Multiple bids
Add your business for FREE and join one of Reverse Mortgage' fastest growing FREE business networks and business directories. Allow us to help grow your business FAST by connecting you with consumers AND up to 1,200 other LOCAL professionals in your zip code willing to provide top quality service and recommend your services whenever possible. In fact, we will include you in the Reverse Mortgage Business Directory, Reverse Mortgage Business Network, social network, referral management system, and give you an optimized web page that can rank on major search engines like Google in as little as 2 weeks. CLICK HERE to watch a 2 minute video on how we can grow your business in the first 30 days...FOR FREE!
Featured Reverse Mortgage Business
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A reverse mortgage is a loan available to seniors, used to release the home equity in the property as one lump sum or multiple payments. The homeowner's obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves. In a reverse mortgage, the homeowner makes no payments and all interest is added to the lien on the property. If the owner receives monthly payments, or a bulk payment of the available equity percentage for their age, then the debt on the property increases each month. In the United States, a reverse mortgage must be the only mortgage on the property.
To qualify for a reverse mortgage in the United States, the borrower must be at least 62 years of age. For most reverse mortgages, the money can be used for any purpose; however, the borrower must pay off any existing mortgage(s) with the proceeds from the reverse mortgage. Some types of dwellings do not qualify, while others, such as mobile homes, have special requirements.
Before borrowing, applicants must seek third party financial counseling from a source that is approved by the Department of Housing and Urban Development (HUD). These sessions are free of charge, and the counseling is a safeguard for the borrower and his/her family, to make sure the borrower completely understands what a reverse mortgage is and how one is obtained. The current lending limit, regardless of the home’s value, is $625,500. The maximum an originator can charge for a loan origination fee on a reverse mortgage is $6,000.
The older the individual is, the more lenient the qualifications become, as the mortality rate increases with age. During the loan and the remainder of its life, the borrower cannot be asked to leave the property, as he/she is still the owner and deed holder. As far as heirs go, they are still entitled to the property upon the borrower’s passing. The estate will be settled in the normal way, the property will be passed on to the heirs, and they can refinance out of the reverse mortgage.
Please note: We do not sell or rent our lists or contact information (see privacy policy). We review each registration to determine if the profession is compatible with our network. Not all registrations will be accepted. Acceptance is NEVER based on race, gender, religion, family status, or gender preference.
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33 South Service Rd Jericho, NY 11753 - 516-750-9727
