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Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
​iReverse Home Loans, Corporation
Branch Office * 8231 Tobago Lane, Wellington, FL  33414 * Branch NMLS #1613062
Branch Manager Russel Helfman M.B.A.   * Individual NMLS #387498
855-434-2349 (Phone) * 516-706-6125 (Fax)
Corporate Office * 7689 Sitio Algodon, Carlsbad, CA  92009 * Corporate NMLS #1564664
Low-Cost-Reverse-Mortgage-Help
We originate reverse mortgages in Florida, Texas and California
In Texas DBA “iReverse Home Loans of Texas, Corporation”
Pros & Cons
Pros:
  • Gives borrower a greater sense of financial freedom, security and independence.
  • Never be forced to sell or vacate your home.
  • Never have monthly mortgage payments.
  • Never owe more than your loan balance or the current market value of your property (whichever is lower).
  • Remain independent because you get to stay in your home and retain ownership.
  • You or your heirs get the remaining equity when the home is sold.
  • Always retain title to or ownership of your home.
  • Fees can be paid out of the loan proceeds which means very little “out-of-pocket” expenses.
  • Borrower safeguards including mandatory independent reverse mortgage counseling and government regulation on fees so that there can never be “excessive fees”
  • You can sell or move at any time.
  • No income or credit history qualifications.
  • Keep your Medicare and Social Security.
  • Payouts received from a reverse mortgage are tax free.
  • Receive the loan proceeds in the best way that suits your financial situation – lump sum, line of credit or monthly payments.
  • Reduce your financial stress by allowing the additional money from the reverse mortgage to provide a financial security blanket for any unexpected expenses.
  • Freedom and flexibility - There are no restrictions on how you use the funds from the loan. 
  • Pay for medical expenses or long term care.
  • Pay for grandchildren’s college tuition.
  • Pay off credit card debt.
  • Make needed home repairs & improvements or life style modifications.
  • Pay for in-home care so you can get the personal care you desire in the setting you are most comfortable in...  Your own home.
  • A reverse mortgage can be considerably cheaper than selling or moving to a new home.

Cons:
  • Because no monthly payments are required, the amount of money owed on the home will increase each month.
  • Need-based benefit programs like Medicaid or Supplemental Social Security may be impacted so this must be reviewed with your local area agency on aging and/or a qualified financial advisor since programs vary by state.
  • May have higher up front fees than some other types of financing.
  • If property taxes or home owner’s insurance is not paid, loan may become due.
  • Can reduce amount of equity available to leave to heirs.
  • There are limits on how much you can borrow.
  • Since the interest accrued on the loan is not paid until you sell the home, the interest on a reverse mortgage isn’t tax deductible until after the loan is paid off.





If you have any questions about the "Pros & Cons" of the reverse mortgage program, please contact us so we can explain any details of the program...​
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Reverse Mortgage Help Desk - Rated A+, The Honest Place to Find out How the Loan Works and If It’s Right for You.  Low Cost Loans Our Specialty.
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
Low-Cost-Reverse-Mortgage-Help
​iReverse Home Loans, Corporation
Branch Office * 8231 Tobago Lane, Wellington, FL  33414 * Branch NMLS #1613062
Branch Manager Russel Helfman M.B.A.   * Individual NMLS #387498
855-434-2349 (Phone) * 516-706-6125 (Fax)
Corporate Office * 7689 Sitio Algodon, Carlsbad, CA  92009 * Corporate NMLS #1564664
Low-Cost-Reverse-Mortgage-Help
We originate reverse mortgages in Florida, Texas and California
In Texas DBA “iReverse Home Loans of Texas, Corporation”