Reverse Mortgage Payoffs

Elderly homeowners sometimes take out reverse mortgages (and in some cases unbeknownst to the family) to provide sufficient cash for living expenses during their golden years without the need for monthly mortgage payments. We provide flexibility for the estate’s executor to be able to manage estate assets without being forced to sell them in order to make ends meet.

• Upon the death of the homeowner, the reverse mortgage loan immediately comes due, meaning that either the estate or the family must pay off the entire loan within a very short time in order to keep the property
• Oftentimes, families do not have the flexibility or liquidity to pay off the entire balance of a loan such as this in a short time
• With strict payoff time period requirements after the passing of occupants, our loans will provide the estate time to find permanent financing

Additional benefits include:

• Competitive rates and terms
• No personal guarantee required
• Interest only payments
• No prepay penalties
• No minimum months of interest
• Funds are typically available within 7-10 business days