Columbus Ohio Reverse Mortgage

One example of a reverse mortgage I personally handled was a couple near Columbus Ohio. He planned on retiring soon and they wanted to reduce expenses. They had a small first mortgage and wanted some cash to replace the garage. They didn't want to have the additional expense of a payment. After researching the options available the couple decided on a reverse. I structured the reverse to payoff the existing mortgage, give them $15,000 cash after the closing, and leave $40,000 available on their line of credit. Now remember they won't have a mortgage payment and can live in the house as long as they like. When they both have moved out of the property or passed away all of the remaining equity goes to their heirs. As with all my clients in Ohio, Indiana, or Kentucky I can drive to meet with you face to face.