Youtor
How Does a Reverse Mortgage Work
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=SRIRiaraM2U
In this video, USA Reverse addresses how a reverse mortgage works. To learn more about reverse mortgages, and how they work, visit https://www.USAReverse.com today. • How Does a Reverse Mortgage Work • Video Transcript: • A reverse mortgage can be a good way to supplement your retirement income. Let’s look at how it works. • First, think of how your home mortgage works. As you make monthly payments, the amount of equity you have in the home increases. • This equity is money that is tied to the value of your home. • A reverse mortgage allows you to borrow that money in payments made back to you. • As you receive cash payments the equity in your home is slowly reduced. Also, your loan balance slowly increases over time. • The reverse mortgage loan is repaid when the homeowners or borrowers leave the home. • A reverse mortgage thus allows you to access the cash in your home, while you still own it and live in it. • There are some rules to reverse mortgages. • The borrower must be at least 62 years old. • The home must be your primary residence. • You must own your home and have substantial equity in it. • You must be able to keep up with property taxes, insurance, and homeowner’s insurance fees. • Many other rules also apply. Make sure you understand them all, before you apply. • If you’re interested in a reverse mortgage? Here are five simple steps on how to get started . • Step 1 – A USA Reverse licensed representative will provide you a no-obligation review. • Step 2 - You are required to get counsel from a certified HUD counselor. • Step 3 – A USA Reverse licensed representative will walk you through the entire application process. • Step 4 - During processing, your home is appraised, documents are signed, reviewed, and the loan approval depends on this process. • Step 5 - After closing the loan you begin to receive funds either in monthly installments, a lump sum payment or a line of credit. You can use the funds as you desire. • If you would like to learn more about reverse mortgages, call USA Reverse today.
#############################
