In the News – The New* Reverse Mortgage Loans
In the article Fairway, Independent Mortgage Corporation released on The New* Reverse Mortgage Loans, they explain the benefits and qualification requirements of reverse mortgage loans. If you are interested in a reverse mortgage loan it is imperative to see if you are eligible. Pankau Law’s professionals are here to guide you through the reverse mortgage loan process starting from the very beginning.
Fairway, an Independent Mortgage Corporation outlines the eligibility criteria’s as following:
Borrower(s) must be 62 years or older
Must be homeowner and either own a home outright or have significant equity; must live in home as primary residence (live there 6+ months per year)
Property must be a single-family home, 2-to-4-unit dwelling or FHA-approved condo
Must meet minimal credit and property requirements
Must receive reverse mortgage counseling from a HUD-approved counseling agency
Must not be delinquent on any federal debt
Pankau Law professionals are here to help see if you qualify for your reverse mortgage loan. Our knowledgeable real estate lawyers are well qualified in reverse mortgages. We focus on working with you to make the right decisions regarding your most valuable assets, which include but are not limited to your home.
Trusted Pankau professionals allow you to feel confident when making important decisions regarding your choice for a new reverse mortgage home loan. We specialize in real estate, estate planning, trust administration and more. Contact us
today to discuss your new reverse mortgage loan options! We are here to answer any questions you may have and look forward to working together.
This content of this blog is intended for informational purposes only. It is not intended to solicit business or to provide legal advice. Laws differ by jurisdiction, and the information on this blog may not apply to every reader. You should not take, or refrain from taking, any legal action based upon the information contained on this blog without first seeking professional counsel.