Reverse mortgages have become an increasingly popular financial tool for seniors age 55+ looking to tap into their home equity without the burden of monthly mortgage payments. One crucial aspect that distinguishes reverse mortgages from traditional home loans is the concept of “non-recourse.” The non-recourse feature offers an additional layer of protection for seniors and…
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© 2019 Northwest Reverse Mortgage, LLC
Powered by Amerifund Home Loans Inc. NMLS #347051
Number:
Office: (800) 806-1472
Toll Free: (800) 806-1472
Fax: (541) 253-4370
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Info@nwreverse.com
Northwest Reverse Mortgage
13220 SE 172nd Ave
Ste #172
Happy Valley, OR 97086
Phone: (503) 427-1667
Northwest Reverse Mortgage powered by Amerifund NMLS #347051. Equal Opportunity Mortgage Broker. Credit on approval. Terms subject to change without notice. Not a commitment to lend. Contents not provided by, or approved by FHA, HUD or any other government agency. All potential tax benefits should be verified with a professional licensed tax advisor. NMLS Consumer Access
At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds; charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees; the loan balance grows over time and interest is charged on the outstanding balance; the borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home; interest on a reverse mortgage is not tax deductible until the borrower makes partial or full re-payment.