What is a Miami Reverse Mortgage?
Do you know how a Miami reverse mortgage works?. You may or you may not.
Are you over 62 years old? Interested in eliminating your monthly mortgage payments? Looking for income for life?
A Miami reverse mortgage loan is available to seniors who are above 62 years old. One function of the Miami reverse mortgage is designed to help seniors eliminate their monthly mortgage (in the event they still have one). There must be enough equity in the property to qualify. The Miami reverse mortgage allows seniors above 62 to transform a part of their home equity into immediate cash. This eliminates the need to sell your home. It also eliminates your need to refinance.
Moreover, a reverse mortgage loan allows you to access your accumulated home equity. Through this financial instrument, you don’t have to make payments on the reverse mortgage. Because of this, payments are deferred until you pass away or you vacate your property. This is an amazing opportunity for you, as a senior citizen. Why? Because you are not required to make a mortgage payment. You don’t have to pay any interest. Still, you must continue to have homeowner’s insurance. And, you must pay the yearly property taxes due on your home.
What Mario Quintero Can Do For You?
If you are still confused about what a Miami reverse mortgage loan is, contact me here. Call me at 305-598-1600. I’ve helped thousands, like you, secure financing through mortgage loans since 2002.
Get in Touch with Me
I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loan. Furthermore, I can help your senior parents secure a comfortable retirement through a reverse mortgage.