Why Is It Called A “Reverse Mortgage”?  

Nationwide Home Loans is your premier reverse mortgage company in Fort Lauderdale. With years of extensive industry experience, we have the tools and expertise to ensure the right loans for borrowers. Whether for mortgages, second mortgages, or reverse mortgages, our highly-dedicated team works with you every step of the way. This includes the timely filing of all paperwork, along with approval with the best lenders and rates in the nation.

Reverse mortgages are great for elderly homeowners that need additional revenue. Similarly, they are perfect for seasoned homeowners or retirees looking for additional streams of income. These loans offer better benefits than traditional home equity loans, and allow borrowers to tap into the equities they have built up in their homes for years.

Why Choose a Reverse Mortgage in Fort Lauderdale?

Reverse Mortgages in Fort LauderdaleThere are several benefits associated with Fort Lauderdale reverse mortgages. For one, NHL lending guarantees the best rates from top-lenders across Florida and the nation. Similarly, we connect you to the best lenders with flexible repayment terms and loans. This includes income-sensitive plans, along with fixed-variable, FHA, VA and more. Here are some aspects to consider when it comes to reverse mortgages in Fort Lauderdale:

  • Reverse mortgages are great for retirees and elder homeowners looking for additional streams of income.
  • Reverse mortgages are available for homeowners 62 years of age and older.
  • These loans enable you to borrow against the equity of your house.
  • With home equity loans, you must pay back these borrowed amounts. However, reverse mortgages require no out-of-pocket expenses until the sale of your property.
  • The balance is paid through the sale of your home.

With reverse mortgages, the money does become due if a spouse passes away. In fact, the surviving husband or wife can continue to live in the home. Reverse mortgages are also stress and worry-free since they require no monthly payments.

Understanding Reverse Mortgages in Fort Lauderdale

Reverse mortgages truly help homeowners generate more revenue and value for their homes. However, they are still responsible for home insurance and property taxes. As mentioned earlier, these loans allow seniors to access the home equities they have amassed in their homes. They can also defer payments on their loans until they sell or move out of their homes. With reverse mortgages, interest is simply added to the balances each month. Homeowners are also not required to pay additional loan balances that exceed their current or future house values.

Reverse MortgagesAt Nationwide Home Loans, we showcase the best reverse mortgages for all applicable homeowners. We also explain each facet of the reverse mortgage process. From loans applications and approvals to implementation, we explain all the rules and regulations that govern and mandate reverse mortgage loans in Florida. This includes:

  • NHL explains the reverse mortgage loan rules to applicants across the board. This includes current lender and borrowers laws and regulations.
  • NHL loan specialists work with you every step of the way to ensure smooth, hassle-free and favorable outcomes.
  • Reverse mortgages essentially generate revenue by tapping into the built-up home equities. While reverse in nature, these loans have been proven to be successful for elderly, senior and retiree homeowners.
  • Reverse mortgages also correlate with your incomes and consumption patterns over time.
  • These loans are similar to equity loans but do not have to carry the rigid rules and monthly mortgages that these loans demand.

Nationwide Home Loans Reverse Mortgage Lenders in Fort Lauderdale

Monthly income from reverse mortgage loans is carefully structured across the board. This means they will never exceed the current of future values of your home. Similarly, anyone that owns a home – with built-up equity and collateral – can quality for reverse mortgage loans. Even homeowners with bad credit ratings may be able to tap into these helpful home loans. The income from reverse mortgage loans is not taxed, and will not affect your Social Security or Medicare benefits. As a risk-free, tax-free, and worry-free residential loan, you can truly enjoy our retirement with peace of mind and additional income.

For more information on a reverse mortgage in Fort Lauderdale, simply contact us today or visit our website.

By |2018-11-02T17:52:03+00:00September 10th, 2018|blogs|0 Comments

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