Florida Mortgage Corporation offers reverse mortgages for Florida property only. A "reverse" mortgage is a loan against your home that you do not have to pay back for as long as you live there. With a reverse mortgage, you can turn the value of your home into cash without having to move or to repay the loan each month. The cash you get from a reverse mortgage can be paid to you in several ways:
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A Reverse Mortgage in Florida is a non-recourse loan. There is mortgage insurance, which is a Federal requirement, which will pay off the difference from the value of your home to what you owe. No one comes out of a Reverse Mortgage owing more than the value of their home.
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Florida Reverse Mortgage. A Florida reverse mortgage is a financial solution that has grown in popularity over the last decade with our clients who are over the age of 62; it can be thought of as the opposite of a conventional mortgage, and offers financial freedom for those who qualify.
American Advisors Group (AAG) is the largest reverse mortgage lender in the United States (as of 2016). Founded in Irvine, Calif. in 2004, it is licensed to do business in 48 states and has been approved by the Dept. of Housing and urban development (hud) to do business in 81 separate geographical areas.
Welcome to the Florida reverse mortgage help center. Larry McAnarney is your Florida licensed Reverse Mortgage Specialist. Please contact Larry for additional details and program offerings. Contact us if you would like to know how much money is available to you or request a reverse mortgage quote and fill out the appropriate information.
Although the minimum age to qualify is 62, consumers will benefit more from a reverse mortgage loan if they apply for it later in life. Since age is one of the factors that determines how much money a borrower gets, getting a reverse mortgage after 62 means there will be more funds available to the applicant.
Florida Reverse Mortgage What is a Reverse Mortgage? A Florida Reverse Mortgage with Open Mortgage and Melinda Hipp 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.