What is a Reverse Mortgage?
A reverse mortgage is a loan that enables homeowners 62 and over to convert some of the equity in their homes, without having to sell the home, give up the title or take on a new monthly mortgage payment (principal & interest).
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❖ Home Equity Loan that provides funds to borrowers based on age and home value
❖ Homeowners normally defer payment of the loan until they
     ●  Pass away
     ●  Sell or transfer title
     ●  Permanently move
❖ Should Not affect Social Security or Medicare benefits
❖ May affect SSI and Medicaid (consult with appropriate government agency)
​❖ Borrowers continue to be responsible for property taxes, homeowners
insurance, home maintenance and all property charges (HOA dues, etc.)

Borrower Eligibility 
❖ 62 or older
❖ Own and occupy the property as the principal residence 
❖ Complete a HECM Counseling session

Property Eligibility 
❖ Single family homes
❖ 2-4 family dwelling
❖ FHA approved condominiums
❖ Manufactured housing that qualifies under FHA guidelines 
❖ All properties must meet FHA property standards and flood requirements
❖ Must be the primary residence

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​​Payment Options
❖ Line of Credit - Access your available funds whenever you need 
❖ Tenure - Fixed monthly payment for as long as you live in and own your home
❖  Term - Fixed monthly payments for a set number of years
❖  Lump sum-cash up front
❖ A combination chosen from above 

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​​Reverse Mortgage Features
❖ Funds can be used for virtually any purpose
❖ Is not considered taxable income (consult your tax advisor)

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Free Analysis
​Please contact me for a customized analysis with detailed estimates based on your particular financial situation.  The information is personalized and based on the goals you would like to accomplish. 

At a Glance
 
The analysis contains color pie charts and graphs which are tailored to your specifications and can help you easily understand how a reverse mortgage would work for you.
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SC residents will also receive a statement regarding the advisability and availability of independent information and counseling services on Reverse Mortgages.

Customized Information  Includes

The Estimates	Counseling Details	Consumer Information
Loan Comparison	List of HUD Approved HECM Counselors	Reverse Mortgage Analysis
Estimate of Closing Costs Worksheet	Preparing for Your Counseling Session	Use Your Home to Stay at Home
Amortization Schedule-Annual Projections	Counseling Access Code	Considering a Reverse Mortgage?
Total Annual Loan Cost	(The counseling list varies by state)	(More information is available upon request)

​Reverse Mortgage Lenders

There are many reverse mortgage companies to choose from. Some of the largest reverse mortgage lenders use a centralized call center and the client may never meet with a loan officer face to face. Your information is often gathered over the telephone and an application is mailed to you or an appointment is arranged with a notary to attend the application signing. 
 
My commitment is to meet with you personally if you decide to apply for a reverse mortgage loan.  For your convenience, I will travel anywhere in South Carolina for a face to face application signing.  I have over 14 years experience as a Reverse Mortgage Consultant and can walk you through the entire loan process every step of the way.

What is a HECM for Purchase?

A financing option specifically for home buyers who are age 62 and older that may help you get the funds you need to buy the home you want.

It enables you to purchase a home by combining a one-time investment of funds with the loan proceeds from a HECM to complete the transaction. The home you are purchasing secures the loan. Click the HECM For Purchase button at the top of the page for more information.