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| (or lifetime mortgage) is a loan available to seniors aged 62 or older, per HUD, and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner's obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves, they can be out of the home for up to 364 consecutive days. |
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City: Schaumburg State: IL |
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City: Westchester State: IL With senior homeowners facing so many financial worries today, many are turning to Reverse Mortgages as a solution. Whether facing foreclosure or struggling to make ends meet, a Reverse Mortgage can help. This low interest, no-payment equity loan can provide money for various financial needs, including: pay off an existing mortgage, health care costs, monthly bills, drug costs, etc. . You can trust Metlife to provide this financial tool for you or the ones you love! |
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City: Oak Brook State: IL Senior Lending Options is provided by Mortgage Enterprises, Inc; a FHA Certified Mortgage Broker since 1996. Reverse Mortgages are commonly used when a Home Equity Loan isn't an option due to Income/Expense Ratio Requiremets. RM's usually restructure Seniors' monthly budgets to a positive cash flow. We also work with their lender if the home equity is short to allow this option. RM's are the BEST Foreclosure Avoidance Tool. We will run a Free estimate of what you are entitled so you know. |
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