Reverse Mortgage Blog

Now it's tougher to get a Reverse Mortgage.

May 27th, 2015 | Reverse Mortgage, Retirement Planning, HECM Reverse Mortgage, Financial Assessments

It is in fact now much tougher than in the past to get a Reverse Mortgage.  The key to success for retirees and seniors going forward seeking a Reverse Mortgage is to plan.  In short, don’t wait until you have spent your last dollar before you decide to apply for a reverse.  The loans are now being scrutinized for risk and not everyone is going to be eligible.  A plan could be as simple as inquiring six to twelve months ahead of time before the basis for need becomes funds of last resort. If you want to maximize your chances of obtaining a reverse mortgage, start with a plan and an experienced loan officer that not only can explain the complexities of the program so you can clearly understand them, but also provide guidance to help you get the loan.

http://www.marketwatch.com/story/now-its-tougher-to-get-a-reverse-mortgage-2015-05-23?cb=logged0.17538346629299406


George H. Omilan
President-CEO - NMLS# 873983
Jefferson Mortgage Group LLC
Helping seniors with Reverse Mortgages in Virginia, Maryland and Pennsylvania.

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Jefferson Mortgage Group LLC

2536 Leeds Rd.
Oakton, Virginia 22124
703-319-2198
FAX: 703-773-6946
info@jeffersonmortgage.com
NMLS: 935554

Located in Fairfax County, Virginia. Serving all of Virginia, Maryland, DC & Pennsylvania. 

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Jefferson Mortgage Group LLC is licensed in Virginia, Maryland, DC & Pennslvania.
Virginia State Corporation Commission License Number MC-5659 and the Pennsylvania Department of Banking & Securities #46259 
The DC Department of Insurance, Securities, and Banking License #MLB935554
Maryland DLLR License #21586

An Equal Housing Lender

By refinancing the consumer's existing loan, the consumer's total finance charges may be higher over the life of the loan.

This material is not from HUD or FHA and has not been approved by HUD or any government agency.