Miami Reverse Mortgage Lender
At Citizens Lending Group, we pride ourselves on being an educational resource for all our Miami reverse mortgage clients. We firmly believe that having information and knowledge are the prerequisites for making any financial decision during your retirement years. Miami reverse mortgage borrowers have come to rely on us to provide the information they need to make the best decisions for themselves and their loved ones.
If you are facing unexpected expenses in retirement or find yourself needing to make a change in life, consider the freedom a reverse mortgage can offer. Contact us today to learn more about Miami reverse mortgage requirements.
Miami Reverse Mortgage Facts
It is common for people to feel anxious about taking a reverse mortgage before they understand all of the facts about the advantages these loans offer. At first, many families worry that they will have to sell their home to repay the loan. While it is required that you repay the loan at the time the last borrower no longer lives in the home or the loan terms are no longer met, you are not required to sell your home. You or your heirs are free to repay the loan that out of pocket using personal funds.
Some people may believe that other lines of credit are more advantageous to them in their elder years, and this may be true in some cases. However, what people often do not realize is that most other forms of credit can be closed for lack of use. Additionally, Miami reverse mortgage rules require that you can never be made to pay back more than the fair market value of the house at the time that the loan is due, offering some protection to borrowers and their heirs.
For many retirees, Social Security and retirement savings provide the day-to-day stability that they need. They only need a line of credit when major emergencies arise. In this situation, many find that they go years without touching their lines of credit and they are closed without notice. As you learn all about reverse mortgages, you will learn that these loans are available to you as you need them.
Reverse mortgage loans can be dispersed over time, as a lump sum, or in a line of credit. From the day you sign your loan, the money available to you only goes down if and when you spend it. This is a significant advantage for retired people who need an emergency source of money. Miami reverse mortgage lenders can help you make the best decision on whether or not a reverse mortgage loan is right for supplementing your retirement income.
Contact a Miami Reverse Mortgage Lender Today
At Citizens Lending Group, we have built trust and security with Florida retirees for years. Our solid reputation has come from our dedication to honesty and education throughout the loan process and to helping Florida seniors learn to make financial decisions that are right for them. Contact us today if you have questions about Miami reverse mortgage requirements and want to learn more.