Reverse Mortgage Features & Uses

Curtis Lawrence “Mr Reverse Mortgage” is a leading provider of Reverse Mortgages in Portland, Beaverton, King City, Vancouver, as well as the whole state of Oregon and Washington. For more information on Reverse Mortgages and how to qualify contact Curtis Lawrence today at (503)805-2906!

Features of the HECM/Reverse Mortgage

  • Funds received are tax free and does not affect your Social Security or Medicare benefits.
  • You are still in title and own your home (just like a traditional mortgage). Home equity will go to your heirs or estate.
  • FHA Reverse Mortgages are Non-recourse loans…which means they are insured by FHA and the home stands for the loan. The homeowner (or heirs/estate) will never owe more than the value of the home.
  • No monthly mortgage payments are required.
  • No Pre-payment penalty… payoff anytime without penalty.

The Reverse Mortgage is a viable and extremely flexible financial tool that can help senior homeowners manage their resources…and enjoy a more stress free, comfortable, and secure retirement.

Reverse Mortgage Uses

Some common uses of a Reverse Mortgage include:

  • Payoff an existing mortgage and eliminate monthly mortgage payments.
  • Supplement retirement income with payments from your growing line-of-credit and make retirement savings last longer.
  • Use the flexibility of having a Reverse Mortgage growing line-of-credit to build a safety net for unplanned emergencies, home repairs, and healthcare expenses; or to preserve investment accounts during market downturns.
  • Use Reverse Mortgage proceeds to help accommodate and support aging in place expenses such as; in-home care, housekeeping and shopping services, home maintenance, updating or remodeling to make the home more senior friendly.
  • A Reverse Mortgage may also be used to help delay taking Social Security benefits in order to boost lifetime retirement income.
  • Reverse Mortgage funds can be used for virtually any purpose; bucket list items such as exotic vacations, travel to visit family and friends, payoff credit cards, buy a new car, fund a hoppy, start a business, or just to improve everyday living…the  options are unlimited.

Work with a Local Reverse Mortgage Lender

Curtis Lawrence “Mr Reverse Mortgage” is a leading provider of Reverse Mortgages in Portland, Beaverton, King City, Vancouver, as well as the whole state of Oregon and Washington. For more information on Reverse Mortgages and how to qualify contact Curtis Lawrence today at (503)805-2906!