HECM (Reverse Mortgage) and Loan Options
You Can Use a HECM To Pay For:
1. In-Home Care
2. Assisted Living
3. Adult Day Care
4. Adult Foster Care
5. Home Safety and Accessibility Modifications
6. Durable Medical Equipment and Supplies
7. Mortgage Payments
8. Long-Term Care Insurance
9. Existing Medical Bills and Credit Cards
10. Prescription Drugs
11. Property Taxes and Home Insurance
12. Collection and Creditors
Benefits of a Reverse Mortgage:
1. Acts as a Line of Credit.
2. Receive monthly payments or large lump sum cash.
3. You can stay in your home for the rest of your life.
4. You retain ownership and can sell, pay off the loan, or refinance anytime you like.
5. No monthly mortgage payments.
(1) At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds; (2) charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums, and servicing fees; (3) the loan balance grows over time, and interest is charged on the outstanding balance; (4) the borrower remains responsible for property taxes, hazard insurance, and home maintenance, and failure to pay these amounts may result in the loss of the home; and (5) interest on a reverse mortgage is not tax-deductible until the borrower makes partial or full re-payment.
We are here for you. Contact us to receive your free consultation and see how eBuilt Home Loans can help you. Call us at (888) 887-3117 or email us at info@ebuilthomeloans.com.