Money Tree Billing - Paul Reschke
A Reverse Mortgage is a loan that allows senior homeowners to access a portion of their home's equity to supplement their retirement income or purchase the home of their dreams with no monthly mortgage payment.* The loan generally does not have to be repaid until the last surviving homeowner on title permanently moves out of the property or passes away. At that time, the estate can repay the balance of the reverse mortgage loan or sell the home to pay off the balance. All remaining equity is inherited by the estate. The estate is not personally liable if the home sells for less than the balance of the reverse mortgage loan.
I understand that choosing a mortgage is the biggest financial decision of your life, and am committed to making the process as seamless, friendly and financially valuable to you as possible. It's a simple formula that has made Guaranteed Rate one of the most trusted mortgage providers in the U.S.
*One borrower must be at least 62 years old, meet financial assessment requirements and be responsible for monthly property charges such as property tax, homeowner’s insurance, etc.