**You are required to receive consumer information from HUD-approved counseling sources prior to obtaining the loan. This will take about an hour and can be done in person or by phone. This service is free to the homeowner.
You can contact the HUD Housing Counseling line at 1-800-569-4287 to obtain the name and telephone number of a HUD-approved counseling agency or click on the link below.
HUD Approved Housing Counseling Agencies
Solutions for Seniors
Retirement planning is difficult and unpredictable: Seniors often are faced with rampant increases in health care; expensive prescription drug costs; unexpected major medical expenses; estate planning issues or changes, etc. Or maybe you just need cash for that long-awaited vacation you’ve promised yourself or someone special for a very long time. A reverse mortgage enables homeowners 62 years old and older to convert their home’s equity into tax-free income.
With Tim's Citywide Teams Reverse Mortgage program, you borrow against your home's equity and can receive monthly payments, a line of credit, a lump-sum payment, or any combination of the three.
For many older borrowers, a reverse mortgage is the most effective way to convert their home’s equity into money to be used however they wish.
Watch Reverse Mortgage Video
A Reverse Mortgage Program allows seniors to:
- Continue to own and live in their own home
- Pay no income taxes on cash advances
- Receive an immediate cash payment in addition to monthly income
- Repay the reverse mortgage when the home is sold
- Prepay at any time without penalty
Check out what others have to say about a Reverse Mortgage: |
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