Are Reverse Mortgage Loans Safe?

You’ve worked hard to pay the mortgage on your home. With a reverse mortgage you can receive the equity that you earned. A federally insured reverse mortgage product will help you unlock that equity by increasing your monthly cash flow. Rest easy knowing you’re protected because with a reverse mortgage you can:

  • Access the equity in your home and stay in your home as long as you want. However, if you move, pass away or fail to pay property taxes or home owners insurance or otherwise fail to comply with the loan terms then you could be forced to sell your home or repay the loan.
  • Never owe more than your loan balance or the value of the property (whichever is lower).
  • Receive an annuity-like stream of cash flow for as long as you, the borrower(s) remain in the home. Some borrowers elect to receive a lump-sum payment  or line of credit rather than the monthly payments.

Speak with one of our professionals today and learn how you can make the most of a reverse mortgage.

If you're ready to get started on your reverse mortgage apply now.

Colonial Mortgage Group

Company NMLS# 70452
Paul Skeens NMLS# 7392
www.nmlsconsumeraccess.org

Licensed:  MD 17542  DC MLB70452  FL MBR1384
Licensed by the Virginia State Corporation Commission License #MC5185 & MLO-2351VA
Licensed by the PA Department of Banking License #MB35217

By refinancing your existing loan, the total finance charges may be higher over the life of the new loan.

 

Phone: 301-932-4610
Toll Free: 877-248-0500
Fax: 301-500-1201

3261 Old Washington Road Suite 1011
Waldorf, MD 20602

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