Reverse Mortgage
Discover the financial freedom and flexibility of reverse mortgages with Michael Friedman. Our expert team specializes in helping homeowners access their home equity without the burden of a monthly mortgage payment. Whether you’re looking to supplement your retirement income, cover medical expenses, or make home improvements, a reverse mortgage can provide the solution you need. With personalized guidance and transparent advice, we’ll walk you through every step of the process, ensuring that you make informed decisions that align with your financial goals and aspirations.
- Home
- Reverse Mortgage
Advantages
Flexible Payment Options: Enjoy the flexibility of receiving funds as a lump sum, line of credit, monthly payments, or a combination thereof, tailored to your individual needs.
No Monthly Mortgage Payments: Unlike traditional mortgages, reverse mortgages typically do not require monthly payments, alleviating financial strain for retirees on fixed incomes.
Access to Home Equity: Tap into the equity you’ve built in your home over the years, providing a source of funds for various expenses and enhancing your financial security.
Stay in Your Home: With a reverse mortgage, you retain ownership of your home and can continue living in it as long as it remains your primary residence. Property taxes, insurances,HOA fee’s must be kept current.
Overview :
A reverse mortgage is a financial product available to homeowners aged 62 or older that allows them to convert a portion of their home equity into cash. Instead of making monthly mortgage payments to a lender, the homeowner receives funds from the lender, either as a lump sum, line of credit, monthly payments, or a combination of these options. The loan is repaid when the homeowner moves out of the home, sells the property, or passes away, typically through the sale of the home.
Other Services
Let’s talk with a specialist
Unlock the insights you need with a personalized consultation from our expert specialists. Here’s why you should schedule a discussion today:
- Tailored Advice
Receive personalized guidance tailored to your specific needs, whether you’re a first-time homebuyer, seeking to refinance, or exploring investment opportunities.
- Expert Insights
Gain valuable insights and expert analysis from our seasoned specialists who have in-depth knowledge of the real estate market and mortgage industry
- Transparent Communication
Experience transparent and open communication throughout the consultation process, ensuring that you feel informed and empowered to make confident decisions about your home financial journey.
Make an Appointment
Take the first step towards achieving your homeownership goals by scheduling a personalized appointment with our experienced team.
Understanding Reverse Mortgages: How it Works
Learn the step-by-step process of obtaining a reverse mortgage and unlocking the equity in your home with ease. Explore the four simple steps below to discover how a reverse mortgage can benefit you.
Telephone Counseling
Schedule a consultation with Michael Friedman to discuss your financial goals and determine if a reverse mortgage is right for you.
Application
Complete the necessary paperwork and provide documentation to initiate the reverse mortgage application process
Appraisal and Approval
Your home will be appraised to determine its value, and once approved, you'll receive a loan offer outlining the terms and conditions.
Funding
Upon acceptance of the loan offer, funds will be disbursed to you according to the chosen payment option, providing you with the financial flexibility you need