• Address: Orlando, FL 32824 (map)
• Date Posted: 09/25/09

Reverse mortgage (Purchase or Refinancing) is a unique type of mortgage specially done for Seniors.

Reverse Mortgage (Refinancing), Facts and Benefits:
APPROVED BY HUD. GUARANTEED BY FHA. (HECM) OR HOME EQUITY CONVERSION MORTGAGE. NO CREDIT, NO INCOME AND NO USE RESTRICTION. DOES NOT AFFECT SOCIAL SECURITY OR MEDICARE.
PROCEEDS ARE NOT TAXABLE SINCE IS NOT CONSIDERED INCOME, IN FACT, A LOAN. NO MONTHLY PAYMENTS FOR AS LONG AS YOU LIVE ON THE PROPERTY (Principal). NO OUT OF POCKET CLOSING COSTS, IT CAN BE ADDED TO THE LOAN. ESTATE PASSES TO THE HEIRS OF THE BORROWER(S). CAN NOT BE FORECLOSED FOR NON-PAYMENT AS LONG LAST BORROWER STILL ALIVE.

APPROVAL OF THIS LOAN IS BASED PRIMARY ON THE APPRAISAL OF THE PROPERTY AND THE AGE OF THE SPOUSES. MUST BE 62 OR OLDER WITH NO UPPER AGE RESTRICTION.

FRANC AT 407-536-8511