Senior citizens in Wells are starting to discover the power of reverse mortgages.Let us help take the confusion out of deciding to get a reverse mortgage here in Wells Maine. You will be able to speak with one of our qualified specialists who will ask you a series of questions and then make recommendations for your best course forward based on what they find in their evaluation. However, not everyone is ready to retire. Some retirees still like working and earning an income. Others may have other financial obligations such as paying off their children’s student loans or helping their kids buy a home of their own.

Tips and Tricks to Getting a Reverse Mortgage in Wells Maine

A reverse mortgage is a loan that you use to get the money from your home instead of paying it off. It sounds too good to be true, but there are certain conditions which make this legitimate and insured by FHA. A reverse mortgage is a kind of home mortgage that allows you to convert the equity in your home into cash. If you are at least 62 years old and own your home, you might consider this option if it can help with funding for retirement expenses in Wells .

How Much Equity Do You Need to Get A Reverse Mortgage in Wells ?

Apply today to get approved for a reverse mortgage that will suit your needs. If you're looking for reverse mortgage lenders in Wells we are who you need to call. The majority of lenders out there only offer one type of loan - mortgages. They may be experts in that field and not have the expertise needed when it comes to loans such as ours since they specialize solely on them which is why Reverse Mortgage Experts like us exist!

Who is the Best Reverse Mortgage Lender to Apply with in Wells ?

Choosing the right type of mortgage in Wells for your needs is one thing, but it's just as important to decide on a loan company that will work with you every step of the way. With so many different options available in this competitive market, it can be difficult to know which company or institution offers what they need and at an affordable price. The least expensive option is the single-purpose reverse mortgage in Wells . This type of loan may only be used for one purpose, which will be specified by the lender. Home repairs, for example. Homeowners will low to moderate income will usually be able to quality for a single-purpose loan.

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Don't worry, this loan doesn't take any of your titles away. You are still the owner of the property when you receive a reverse mortgage in Wells . The only thing that will be different for you is having peace of mind knowing you don't have to worry about paying a certain amount of money on a certain date. This is a great option for seniors in Wells looking into retirement that hasn't paid their mortgage off yet. However, if you plan to move or sell your property then this loan isn't the right choice for you. This is bestateuse you will be required to pay it back once you move. If you don't already have the funds secured to pay it, then there may be a penalty. Reverse mortgages are one of the most misunderstood financial products available to Wells retirees today. This misunderstanding results in a lot of people missing out on this valuable resource. We want to help you understand how a reverse mortgage works so that you don't miss out on this great opportunity. You can use our free online guide or schedule an appointment with us today!

For those homeowners not residing in Wells I also work within all these cities: Kennebunk, North Berwick, Cape Neddick, South Berwick, York One of the most essential things to our customers is the fact that we are local and they can talk with us face to face. Quite frankly I understand this. Why on earth wouldn’t you want to do business using a lender over the phone when you can actually seek advise from a lender in Wells face-to-face?