Pensacola Reverse Mortgage Lender
At Citizens Lending Group, we take pride in being a trustworthy source of information and advice for anyone interested in a Pensacola reverse mortgage. We want to be the authority that you come to when you need education and guidance prior to making any significant financial decision in your retirement. Therefore, we have spent many years building a reputation of honesty and trustworthiness in the Pensacola community, advising borrowers on their options and how a reverse mortgage can be the right decision for them and their loved ones, and we continue to build upon that reputation today.
If you find yourself facing financial hardship going into retirement or simply want to get the most out of your golden years, a Pensacola reverse mortgage may be right for you. Contact our experts today to learn more about Pensacola reverse mortgage requirements and how this special type of loan can benefit you.
About Pensacola Reverse Mortgages
Oftentimes, the biggest concern among potential borrowers is whether or not they will need to sell their home in order to pay back the loan. The good news is that though Pensacola reverse mortgages require that you pay the loan back once the last borrower leaves the primary residence, you are NOT required to do this by selling your house. If you decide you want to keep the home in the family for future generations to enjoy, you or your family are free to pay the loan back out of pocket.
While some people believe that other lines of credit can be more advantageous to them in their elder years, what they do not realize is that many other forms of credit can be closed due to lack of use. Lack of use is actually a very common issue that many would-be Pensacola reverse mortgage borrowers encounter. Additionally, it is important to note that Pensacola reverse mortgage rules protect you from every having to pay back more than the fair market value of your home. Any additional costs are covered by the bank’s mortgage insurance.
For many older Florida residents, Social Security and retirement are what provide day-to-day financial stability, so they rarely touch their lines of credit. In fact, many find that they go years without utilizing their lines of credit, only to find that they have been closed without notice when they need them most. As you learn all about reverse mortgages, you will discover that these loans can be dispersed over time and are tied to your home equity. From the day you sign your loan, the money available to you only goes down only if and when you spend it. For retirees who need an emergency source of money, this is a fantastic benefit. Our qualified Pensacola reverse mortgage lenders can help you make the right decision if you find yourself facing an unexpected shortage of finances.
Contact a Pensacola Reverse Mortgage Lender You Can Trust
Our years of dedication to education, clarity, and honesty throughout the loan process have built security and trust among retirees across Florida. If you would like to learn more, ask us any questions about Pensacola reverse mortgage requirements, or find out how much you can get, contact us today!