What Is A Reverse Mortgage?

Do you need a good financial broker to guide you to reputable reverse mortgage lenders in the region of Phoenix, AZ? Brian Lardner is the broker you have been looking for because they provide exceptional services of finding trustworthy reverse mortgage lenders in the Phoenix area.

Reverse mortgage is defined as a loan for senior home owners which makes use of the equity in their home. The amount of loan the loan available for reverse mortgages in the Phoenix area will depend on certain factors, such as: 

  • Age of the youngest homeowner
  • Value of the home
  • Interest rates

 

A reverse mortgage in the region of Phoenix is not repaid until the last surviving borrower passes away or moves out. After that, the estate has one year to pay back the balance, or sell off the property to pay the balance.

Benefits Of Reverse Mortgages For The Phoenix Homeowner

There are various benefits of choosing reverse mortgages in the area of Phoenix, with the most important one being you remain the owner of your property. There is a misconception that the lenders take the ownership of the house which is false. As long as you follow the terms given in the loan, and pay your insurances and taxes, your Phoenix property stays yours.

In reverse mortgages, you receive payments and you do not have to pay a penny to the lenders while you live in your Phoenix home. This is a great way for the residents of Phoenix to increase their monthly income.

Other benefits include:

  • Protection from losses of the housing market
  • Payment can be made in various methods
  • Medicare and social security benefits are not affected

 

Reverse Mortgage Lenders For Phoenix Residents

It important you choose the right reverse mortgage lenders in the Phoenix area and we are the best. Reverse mortgages are considered valuable assets for those over 62 years of age by supplementing their retirement income. Therefore, it is wise to be very careful and weigh in all options available to you.

This is where we can be of great help to you. Our services makes sure that the Phoenix residents choose wisely by:

  • Guiding you through the entire reverse mortgage process
  • Making sure you receive the right loan for you
  • Knowing the best current market rates available

 

Once you decide on a reverse mortgage, we help you with all the paperwork, too.

Brian Lardner provides impeccable service in choosing reverse mortgages for Phoenix residents.
Call 805-434-5226 to talk to our experts about a reverse mortgage.