Why Did HUD introduce the Reverse Mortgage?
Home equity conversion mortgages (HECM) which are commonly
called Reverse Mortgages, were created to give Seniors age 62yrs+ additional
options for buying their last home. Reverse Mortgages make it easy for Seniors
to buy a primary residence for the following purposes:
·
Relocate nearer to family members, friends, or
trusted caregivers .
·
“Right-size” to a smaller home reducing home
maintenance needs that can be found in a senior retirement community.
·
Remodel an existing home to meet family physical
needs like installing handrails, wider doorways and handicapped accessible
restrooms.
·
Enjoy carefree, single level living in your
retirement dream home
A HECM loan can allow you to sell a home, and then purchase
a new home closer to your family and friends by using your home’s equity and
other assets. This is a unique loan
program that benefits Seniors only in order to make the most of their
retirement portfolio and make homeownership affordable.
At Van Dyk mortgage, we specialize in creative, practical
home mortgage solutions for everyone.
Let us make your dream of homeownership come true.
www.myreversemortgageprofessional.com
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