FAQ Who is responsible for repairs on a reverse mortgage?
Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com Who is responsible for repairs on a reverse mortgage? The homeowner is responsible for the general maintenance and upkeep of the property, including any needed repairs. The lender may be able to provide resources or guidance with certain repairs, but the homeowner, not the lender, is responsible for making sure the home is maintained and stays in good condition. 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
00:00:45
FAQ Do reverse mortgages require an appraisal?
Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com Do reverse mortgages require an appraisal? Yes, a reverse mortgage does require an appraisal. Sometimes a 2nd appraisal is ordered for a property. An appraisal determines the home's value and homeowner equity, which helps determine the max loan amount for the reverse mortgage. The appraisal must be completed by a qualified appraiser ordered by the lender. 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
00:00:38
FAQ How much a month do you get from a reverse mortgage?
Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com How much a month do you get from a reverse mortgage? The amount of money you receive from a reverse mortgage depends on several factors, including the current interest rate, the age of the borrower(s), and the value of the home. You can choose to get your loan proceeds in a lump sum, in the form of a line of credit, or paid out on a monthly basis. 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
00:00:45
FAQ Can I outlive my reverse mortgage?
Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com Can I outlive my reverse mortgage? No, you cannot outlive your reverse mortgage. There is no set term for a reverse mortgage. The reverse mortgage will stay in place until the loan is paid off, the borrower dies, or moves out of the house. The borrower cannot owe more than the value of the home. The lender cannot foreclose on a HECM and the borrower cannot lose the home due to age. 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 Who is responsible for repairs on a reverse mortgage? The homeowner is responsible for the general maintenance and upkeep of the property, including any needed repairs. The lender may be able to provide resources or guidance with certain repairs, but the homeowner, not the lender, is responsible for making sure the home is maintained and stays in good condition. 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
Show More
Comments 0
Sign In To Comment
Comments
    Show Transcripts
    Transcripts
    +
    No Transcripts are available for this video.