WHAT....I can use Reverse Mortgage to finance my next home???
YES, you can!!
I recently attended a training course with a firm that specializes in Reverse Mortgages (HECM). The HECM loans have been modified to be more user friendly! There are rules of course. Purchasers must be age 62. (So there are advantages of being a senior!!) And the home must qualify for FHA. With the correct financing scenrio, one could possibly have a ZERO monthly mortgage note!
This is a fantastic opportunity for the active senior to take advantage of moving into a community designed specifically for your lifestyle.
In the Houston metropolitan area, there are several active senior living communities. Want to make a move out of your current home, now is the time to sell your home (we're still in a seller's market). Take advantage of the HECM program!! You can use the HECM loans nationwide!!
So if you are at stage in your life where you need to 'right size', move to a slower pace but not ready to move into a full senior community....give me a try, I'll treat you right.
If you enjoyed this post, please consider sharing it with others.