STC Loans is a well known company based in Miami , Florida helping senior citizens secure a reverse mortgages.
What exactly is a Reverse Mortgage and why it is beneficial to seniors?
The reverse mortgage program is especially developed for home owners who are 62 years and older. This makes possible the process of converting a part of the equity of their owned homes into tax-free cash flow. This program was offered in order for them to have this opportunity without needing to sell their homes, give up the title and worst of all, face a brand-new month-to-month home mortgage payment.
To give you a scope of what this actually means; instead of making regular monthly payments to the loan provider where you availed the cash, just like a mortgage, the loan provider will pay you. You are still required to pay your house taxes, insurance coverage and other charges that are related to the upkeep and maintenance of your home.
