Texas Reverse Mortgage | San Antonio Texas Based Melinda Hipp

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"Making A Reverse Mortgage Work For You"

What is a Texas Reverse Mortgage and could it be right for you?

Find out what is fact and fiction.

A Texas Reverse Mortgage may be just the solution for homeowners 62 and over who are house rich and cash poor. A Reverse Mortgage is a type of home equity loan that allows you to access the equity you have built up over the years while still keeping the title to the home in your name all with no monthly mortgage payments. You do not repay the loan until you permanently leave the home (whether you sell the home, pass away, or move to an assisted living facility.) The majority of Reverse Mortgages are government insured loans by HUD which means you are guaranteed that you or your heirs will NEVER have to repay more than your home’s value – even if you are upside down when you sell the home. You can find out even more information by visiting the Reverse Mortgage Common Questions section or you can listen to this quick video.

Other great reasons why a Texas Reverse Mortgage may be the right product for you RIGHT NOW!

Your home’s value may be the highest it’s been in quite some time. NOW is the time to take advantage of the tremendous equity growth we have had in Texas in the past few years.
If your home currently has a mortgage or home equity loan, the Reverse Mortgage will pay off that debt.
There is NO income qualifying and NO credit qualifying. Even with bad credit, you still qualify for a Reverse Mortgage.
You can take out a lump sum, take monthly installments, or set up a line of credit that continues to grow to take advantage of your home value rising.

If you are STILL not sure whether a Texas Reverse Mortgage may be the right product for you, read on through the information in this site or feel free to contact me by phone or e-mail. There is also a handy application button to click where you can fill in your own individual situation and I can do a FREE Reverse Mortgage analysis for you. Have you used or thought about using a Reverse Mortgage calculator? Click here to find out why an online mortage calulator may NOT be your best bet in qualifying yourself for a Texas Reverse Mortgage.

Financial independence and freedom from debt is just around the corner for you. Take advantage NOW of this great opportunity and let Texas Reverse Mortgage Specialist, Melinda Hipp of San Antonio show you the way!

A reverse mortgage is a home loan that lets homeowners convert a portion of the equity in their home into cash. The equity built up over years of mortgage payments can be paid to you. Unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence.

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To be eligible for a HUD reverse mortgage, HUD's Federal Housing Administration (FHA) requires that the borrower is a homeowner, 62 years of age or older; own your home outright, or have a low mortgage balance that can be paid off at the closing with proceeds from the reverse loan; and must live in the home.

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The amount you can borrow depends on your age, the current interest rate, and the appraised value of your home or FHA's mortgage limits for your area, whichever is less. Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow.

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