HECM & Reverse Mortgages as an Equity Buyout

Bill Gaylord, NMLS 680603 | Gaylord-Hansen Team at CrossCountry Mortgage

Christine Edwards, NMLS 2037883 | Gaylord-Hansen Team at CrossCountry Mortgage

‍

The information contained is the viewpoint of the presenter(s). Individuals should consult their own financial representative.

‍

CrossCountry Mortgage, LLC does not provide legal, investment, accounting, or tax advice. Please consult a licensed attorney, financial planner, CPA, or tax professional on the opinions and information provided.

‍

With a reverse mortgage, no monthly mortgage payments are required. Minimum age is 62. Borrowers are responsible for paying property taxes and homeowner’s insurance. Failure to pay may subject the property to a tax lien or other encumbrance or to possible foreclosure. Borrowers must occupy home as primary residence and pay for ongoing maintenance, otherwise the loan becomes due and payable. A reverse mortgage is a loan and may result in negative equity. The loan must be paid off when the last borrower or eligible non-borrowing surviving spouse dies, sells the home, permanently moves out, or does not comply with the loan’s terms. Reverse mortgages are first and second mortgage loans. This video is not from HUD or FHA and was not approved by HUD/FHA or a government agency. If you are in any doubt as to the suitability of a product or service that you are intending to purchase, or any aspect of your personal finances, we recommend that you seek independent financial advice first. Rates, terms, and availability of programs are subject to change without notice. To find a Reverse Mortgage counselor near you, search the HECM Counselor Roster (https://entp.hud.gov/idapp/html/hecm_agency_look.cfm) or call (800) 569-4287.

Additional Resources

Watch Now:

The Spring Market Is a Sweet Spot if You’re Looking To Sell [INFOGRAPHIC]

Based on how many homes are on the market, there are two big reasons why this spring is looking so good for sellers.

Watch Now:

The Benefits of Downsizing When You Retire

If you’re taking a look at your expenses as you retire, saving money where you can has a lot of appeal. One long-standing, popular way to do that is by downsizing to a smaller home.

Watch Now:

Why Access Is So Important When Selling Your House

If you’re gearing up to sell your house this spring, one of the early conversations you’ll have with your agent is about how much access you want to give buyers.

HECM & Reverse Mortgages as an Equity Buyout

Podcast: "Divorce & Homeownership"

Coming Soon

Additional Resources