Welcome to Texas Reverse Mortgage, Inc. We serve all of Texas, from small towns to big cities we have experienced loan officers able to meet with you at the kitchen table or over a cup of coffee to help determine whether a reverse mortgage is right for you.
What Is A Reverse Mortgage Loan Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is called a home equity conversion mortgage (hecm), and is only available through an FHA-approved lender.
Experience matters in the reverse mortgage business and with a combined experience of over 20 years helping Texas homeowners with reverse mortgages. "We do reverse mortgage loans others can’t". Lone Star Reverse Mortgage, Inc. serves the entire state of Texas including Dallas, Fort Worth, Austin, Houston, San Antonio and all regions.
This article will examine reverse mortgages in Texas, how they work, and who can utilize them. If you have questions regarding the use of a reverse mortgage in Austin, Pflugerville, or Round Rock, contact the real estate attorneys at the office of Sheehan Law, PLLC for a consultation. Reverse Mortgage Basics
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The Texas reverse mortgage loan is the ONLY loan we do. Because it is our sole focus, we dedicate the time it takes to learn and know the FHA rules for reverse mortgage loans and how state laws can affect those rules.. Austin, Texas 78705.
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A reverse mortgage, also known as the home equity conversion mortgage (HECM) in the United States, is a financial product for homeowners 62 or older who have accumulated home equity and want to use this to supplement retirement income. Unlike a conventional forward mortgage, there are no monthly mortgage payments to make.
Minimum Equity For Reverse Mortgage A reverse mortgage provides cash payments to a homeowner age 62 or older in the form of either periodic disbursements or a lump sum, based on their age and home equity. traditional. than what banks.
For loans that are secured by real estate located in Texas: COMPLAINTS REGARDING THE SERVICING OF YOUR MORTGAGE SHOULD BE SENT TO THE DEPARTMENT OF SAVINGS AND MORTGAGE LENDING 2601 NORTH LAMAR, SUITE 201, AUSTIN, TX 78705. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 877-276-5550.
A Reverse Mortgage with Melinda Hipp and Open Mortgage may be just the solution for homeowners 62 and over who are house rich and cash poor or looking to downsize or up size to a new home.