Florida Reverse Mortgage

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Two Florida-based reverse mortgage companies – Reverse Mortgage Advisors based in Lady Lake, and access reverse mortgage Corp. based in Clearwater – are combining personnel and resources in order to "serve clients more effectively" and "ensure homeowners get the most from their property," according to a press release.

Seniors were sold a risk-free retirement with reverse mortgages.. Philadelphia and Jacksonville, Florida, are among the hardest hit, according.

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Reverse mortgages are home equity loans available to homeowners over 62 – and the downsides to taking one out might not just affect you,

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A reverse mortgage is a loan available to homeowners, 62 years or older, that allows them to convert part of the equity in their homes into cash. The product was conceived as a means to help retirees with limited income use the accumulated wealth in their homes to cover basic monthly living expenses and pay for health care.

Howard Frankel, senior reverse mortgage loan officer with Resolute Bank in Naples. Most of these women are divorcees and widows new to Florida, migrating from northern states and following friends.

Florida’s senior homeowners who have run out of money after taking on a reverse mortgage can now apply for up to $25,000 in aid through the state’s $1 billion Hardest Hit foreclosure prevention.

Reverse mortgages allow for seniors to release a portion of the home’s equity to eliminate any existing mortgage payments. hecm’s are unique in that there are no monthly mortgage payments required – no other program has this unique feature.

Reverse Helpline is not acting as a lender or broker. The information provided by you to Reverse Helpline is not an application for a reverse mortgage loan, nor is it used to pre-qualify you with any lender. Use our reverse mortgage calculator to estimate the funds you may qualify for through a reverse mortgage.