Reverse Mortgage Program in NJ or NY

Retired ….. Need Extra Income? The Equity in Your Home Can Be the Answer

Reverse mortgages (also called home equity conversion loans) enable elderly homeowners to tap into their equity without selling their home or purchase a new owner occupied home. The lender pays you money based on the equity you've accrued in your home; you receive a lump sum, a monthly payment or a line of credit. Repayment is not necessary until the borrower sells the property, moves into a retirement community or passes away. When you sell your home or no longer use it as your primary residence, you or your estate must repay the cash you received from the reverse mortgage plus interest and other finance charges to the lender.

Reverse mortgages require you be at least 62 years of age, have a low or zero balance owed against your home and maintain the property as your principal residence.

Reverse mortgages are ideal for homeowners who are retired or no longer working and need to supplement their income. Interest rates can be fixed or adjustable and the money is nontaxable and does not interfere with Social Security or Medicare benefits. Your lender cannot take property away if you outlive your loan nor can you be forced to sell your home to pay off your loan even if the loan balance grows to exceed property value.

  • Use a Reverse Mortgage to purchase a primary residence! 
  • Continued Ownership Stay in Your House for Your Lifetime!
  • Lump Sum Payment Available!
  • Income You Need NOW!
  • No minimum credit score requirement! 
  • Limited Documentation Required!
  • Apply online at 

Homeowner must continue to pay their property taxes, homeowners insurance and maintain the home in good condition during the life of loan.

The new-and-improved reverse mortgage will likely be embraced by aging baby boomers and their trusted advisers as an additional retirement tool that can help ensure future cash flow if and when needed. Seniors can use reverse mortgages in numerous ways to ensure a comfortable retirement and secure financial future. Just a few examples include:

  • Deferring social security to maximize future benefits
  • Protecting against inflation
  • Funding an active lifestyle
  • Not being a burden on family
  • Protecting home equity from nursing-home costs
  • Funding long-term care
  • Accessing tax-free cash if or when needed

Call us today and let us help you determine which program meets your specific need.  Get started on your mortgage Pre-Approval and call us today toll-free at 800-327-0123.


FHA Reverse Mortgage

Wall St Journal: A Home Loan Without Monthly Payments