Miami real estate news and information

Reverse Mortgages Can Be Used to Buy a Home

You may be able to Use a Reverse Mortgage to Buy a Home

The benefit to you is that  (rather than you paying a monthly mortgage to your lender)  a Reverse Mortgage pays you to stay in your house … A reverse mortgage allows you to receive cash payments which from the equity in your home.

The requirements for a Reverse Mortgage are:

*    Homeowner must be 62 or older

*    No credit score requirement to qualify

The benefits of a Reverse Mortgage are:

*    Use the cash you receive for any purpose whatsoever

*    No monthly mortgage payments

*    Borrower retains title to the home

*    The Reverse Mortgage can be used for Purchase or Refinance

*    Without moving you can turn your  home’s value into cash

*    Finance closing costs and other fees with the loan

If you are  in the market to buy, sell or relocate,  and are looking for an experienced , local real estate agent to work with, we invite you to call us. Vicki and Alexandra Restivo at EWM Realtors International  305 793-1365  [email protected]

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