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For your media coverage about reverse mortgages, contact Ms. Paterson for the facts and details: 651-762-9648 or info@RMSIDAC.com |
The Experts Excelling in Service 651-762-9648 1-877-590-9648 |
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The Reverse Mortgage Media Room A reverse mortgage is a mortgage with special terms for senior homeowners 62 and older. Like a conventional loan the borrower owns the home and the title remains in the borrowers' name. However, unlike conventional loans there are no income, asset, or credit qualifications with a reverse mortgage. And with the reverse mortgage payments are not required during the term of the loan. The reverse mortgage is paid when the home is no longer the primary residence of the borrower(s). Additionally, as a non-recourse loan, with the reverse mortgage there is no personal liability to the borrower or their heirs at the time the loan balance is due.
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