Reverse Mortgage Borrow

With a reverse mortgage, you borrow against the value of your home, and receive loan proceeds according to the payment plan that you select. These plans are described on the following pages. As a borrower, you are permitted to change payment plans at any time after origination. You may change payment plans, as many times as you wish.

When you sell your home or vacate it for any reason, the accrued interest plus what the lender has lent you through the years is due.

The only requirements for a reverse mortgage are that you be 62 or older, you own your own home, and that the lender can pay off any liens, or mortgages that are on your home.

Speak with a reverse mortgage counselor by calling 1-888-973-8377.

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