Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com What happens when you have a reverse mortgage and the owner dies? When the owner of a reverse mortgage passes away, the loan must be paid off. If the beneficiaries want to keep the house, they can refinance the loan, or use other assets to repay the loan. If they don't want to keep the house, they can sell it. If the market value of the house is less than what is owed on the reverse mortgage loan, the property can be returned to the lender without any recourse. The heirs are not responsible for repaying any remaining balance on the loan. Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com

Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com What is a reverse mortgage? A reverse mortgage is a loan that is specifically designed for people aged 62 or older. It allows the borrower to access home equity and convert it into cash without selling the home or making any additional monthly payments. The loan does not have to be repaid until the homeowner dies, sells the house, or permanently moves out of their residence. Reverse mortgages can come with fixed or variable interest rates and associated closing costs. Borrowers are required to take a HUD approved counseling course before obtaining a reverse mortgage. Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com

Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com What percentage can you borrow on a reverse mortgage? The percentage of your home's value that you can borrow with a reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), depends on several factors, including the value of your home, your age, and the current interest rates. Generally, the older you are and the more valuable your home is, the more money you can borrow with a reverse mortgage. Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com