Our Reverse Mortgage Blog

June 20th, 2007 3:15 PM

There is an ongoing myth or rumor that when you do a reverse mortgage, you lose the ownership rights to your home. 

THAT IS FALSE!!  You are still in complete control of your home.  You own it.  You are in title of it.  NO ONE can take it away from you!  You live in your home for as long as you need to live in it.  The reverse mortgage is retired only upon either the sale of your home or when you no longer need to live in it.  Upon your passing, the home goes to your heirs and they can make the decision to sell it or refinance out of the existing reverse mortgage.  If any lender tries to tell you otherwise, make sure that you DO NOT do your loan with them. Only approved lenders with loan officers trained in doing reverse mortgages should be helping you with a reverse mortgage. We would be happy to answer any questions you have. Call us at (800) 710-9502 or email us at gary@washingtonreverse.com and we will make sure you get the accurate information!

Posted by on June 20th, 2007 3:15 PMPost a Comment (1)
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Certified Senior Advisors (CSAs) have supplemented their individual professional licenses, credentials, and education with knowledge about aging and working with seniors. The CSA designation alone does not imply expertise in financial, health or social matters. For details, visit www.csa.us. Gary W Smith, CSA is a member in good standing of this Society.

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