Sarasota Reverse Mortgage Lender
With 50+ years in the reverse mortgage loan industry, Citizens Lending Group remains one of the most trusted names in Florida reverse mortgage lending. We have earned our reputation through years of providing exceptional service and education to all of our Florida and Sarasota reverse mortgage clients.
All financial products require careful consideration and adequate information, and this is even more true the case in retirement. The decision you make could affect more than just your lifestyle, but the livelihood of your family as well. This is why we are committed to providing information to Sarasota reverse mortgage borrowers regardless of whether or not they work with us.
Contact us today to learn more about what makes reverse mortgages a unique resource for retirees and to find out more about Sarasota reverse mortgage requirements.
Important Information About Sarasota Reverse Mortgages
While reverse mortgages aren’t without their risks, many reverse mortgage problems can often be easily avoided when you are properly educated about how these financial tools work. For example, this form of borrowing has a number of automatic protections in place designed to protect both seniors and lenders alike. For example, Sarasota reverse mortgage borrowers are required to prove that they can pay their regular living and maintenance expenses for their home using their fixed income or retirement funds. This is specifically to protect seniors from taking out a loan that they cannot afford. Even though borrows make no payments on a reverse mortgage until they sell or are no longer living in the home, the idea that you have to cut into the loan payment in order to pay bills is not in your or the borrowers best interest.
Additionally, many potential Sarasota reverse mortgage borrowers do not know how much their home can actually get them when they apply for a loan. A reverse mortgage is tied to equity, not the price you paid for your home. With rising housing markets over the years, many people are eligible for more money than they may realize which makes these loans particularly useful for helping with costly and unexpected situations like surgeries and medical bills.
It is also worth noting that a Sarasota reverse mortgage does not require you to sell your home when the loan becomes due. While it is true that you must repay the loan when you sell your home or when the last borrower is no longer living in the property permanently, you can leave your home to your family. In this case, your family will be responsible to pay the loan balance out of pocket, but can enjoy a family treasure for years to come.
Contact Us Today for Your Sarasota Reverse Mortgage
The most important thing you can do if you are considering taking a reverse mortgage loan is to educate yourself all about reverse mortgages. You do not want to be stuck in a tough financial situation without adequate information about the options you have available to live a secure and free retirement. Get in touch with our experts today to learn more about Sarasota reverse mortgage requirements, and how we can help you navigate even your most challenging financial problems.