What is a Reverse Mortgage?
While you may have heard about a reverse mortgage loan, do you really know what it is? When you hear “loan”, you conclude you owe something. However, when associated with “reverse”, what is its meaning?
Are you over 62 years old? A reverse mortgage loan, or house equity conversion, is available to seniors 62 years old or older. This tool aids senior homeowners in their retirement years. Why? Because when their income is not as it was during their younger, more productive years, this tool allows seniors to transform a part of their home’s equity into a certain amount of money. Instant money is available to the elderly without needing to sell their house. The also don’t need to make additional regularly monthly mortgage payments.
How a Reverse Mortgage Helps Seniors
Reverse mortgage loans permit senior citizens to access their home’s equity. There are two ways you may this off. The repayment can be deferred until you pass away. Or, you may liquidate it when you vacate the house you currently own. Subsequently, this is a great opportunity for the elderly. Since they make no payments, it provides liquidity in retirement. A reverse mortgage is an excellent financial tool. The interest on the loan is added to the loan balance itself every month.
Why Work with Mario Quintero
Is a reverse mortgage right for you? Are you still confused on the benefits this loan may provide you? Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the reverse mortgage business since 2002. Mario’s experience is tested and true. Mario has helped thousands of clients secure and supplement their retirement through a reverse mortgage.
Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let Mario be both your trusted Miami realtor and Miami mortgage broker.
Get in Touch with Mario
I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.
Call me today at 305-598-1600 or contact me here.