Sentences with phrase «type of reverse mortgage called»

A special type of reverse mortgage called «HECM for Purchase» that allows older borrowers to buy their new principal residence and obtain a reverse mortgage within a single transaction.

There is also a type of reverse mortgage called the HECM for Purchase, which is available to help you buy a new home and get a reverse mortgage in one transaction.

Not exact matches

For help in determining which type would most benefit you, call American Advisors Group at 1-888-998-3147 and speak with one of our knowledgeable reverse mortgage professionals.

This type of foreclosure, typically called a «tax and insurance default» is the most unfortunate outcome of a reverse mortgage loan and can displace borrowers.

To cater to this particular group of homeowners is another type of non-FHA reverse mortgage called the proprietary, or jumbo, reverse mortgage.

For help in determining which type would most benefit you, call American Advisors Group at 1-888-998-3147 and speak with one of our knowledgeable reverse mortgage professionals.

A HECM, also called a reverse mortgage, allows seniors to access a portion of their home equity while remaining in their home and maintaining ownership.1 The process of acquiring a HECM loan is very similar to other types of financing, but prospective borrowers are often surprised to learn that they can not access all of their home equity with a HECM.