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It is my mission to serve my clients with the highest quality customer service in the State of Michigan.
Please contact me if you would like to receive a no obligation Reverse Mortgage information package.
I can be reached at 231-218-0307
A reverse mortgage is a home loan designed for eligible homeowners age 55 and older (62+ for the Home Equity Conversion Mortgage, or HECM, program). It allows you to convert a portion of the equity in your primary residence into usable funds.
Depending on the program you choose, loan proceeds may be received as a lump sum, fixed monthly payments, a line of credit, or a combination of these options.
No monthly mortgage payments are required as long as you continue to live in the home as your principal residence and meet all loan obligations, including payment of property taxes, homeowners insurance, and maintaining the property in good condition. The loan becomes due and payable when the last remaining borrower permanently leaves the home, sells the property, or no longer meets the loan requirements. Any remaining equity after the loan is repaid belongs to you or your estate.
Federally insured reverse mortgages, known as Home Equity Conversion Mortgages (HECMs), are insured by the Federal Housing Administration (FHA). Reverse mortgage products offered by private lenders are also available and are not government insured.