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| Reverse Mortgages |
REVERSE mortgages are a special type of loan that enables those 62 and over to remain securely in their own homes for life, with full title and ownership rights, while converting some of the value of their homes into tax-free, guaranteed monthly income.
Unlike a regular mortgage, a monthly check goes TO the homeowner FROM the lender. No repayment is required until the last co-owner dies, sells or moves from the home. The major difference from traditional mortgages is that seniors can never lose their homes due to missed payments. Repayment of the cash received, plus accrued interest, is made with proceeds from the sale of the home by the estate, with all remaining equity and home appreciation going to the heirs. These mortgages are currently available in about 15 states--INCLUDING MISSOURI. For more information contact your lender.
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218
S. Main Street
P.O. Box 297
New Castle, KY 40050
Office: (502) 845-4400
Toll Free: (800) 939-9724
Fax:
(502) 845-5026
Each RE/MAX office is independently owned and operated. All information
contained herein is provided by RE/MAX Sales Associates. Although
this information is believed to be reliable, neither RE/MAX International
Inc. nor any regional affiliate of RE/MAX International have independently
verified the accuracy of such information and are not responsible
for any misinformation or inaccuracies. Copyright 2008 RE/MAX International,
Inc.
All rights reserved.
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