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  • HOME
  • REVERSE MORTGAGE FAQ
  • IS IT RIGHT FOR ME?
  • PROS AND CONS
  • WHAT ARE THE SAFEGUARDS?
  • WHAT IS HECM COUNSELING?
  • FIRST TIME HOME BUYERS
  • PURCHASING WHAT NOT TO DO
  • FINDING THE RIGHT LOAN
  • POOR CREDIT -WE CAN HELP.
  • VA HOME LOANS
  • MANUFACTURED HOMES
  • DOCUMENTS-UNDERWRITING
  • ADVISORS MORTGAGE INFO
  • CONTACT US
  • ABOUT KATHIE ADLER
  • FLOWERS AND ME
    • HOME
    • REVERSE MORTGAGE FAQ
    • IS IT RIGHT FOR ME?
    • PROS AND CONS
    • WHAT ARE THE SAFEGUARDS?
    • WHAT IS HECM COUNSELING?
    • FIRST TIME HOME BUYERS
    • PURCHASING WHAT NOT TO DO
    • FINDING THE RIGHT LOAN
    • POOR CREDIT -WE CAN HELP.
    • VA HOME LOANS
    • MANUFACTURED HOMES
    • DOCUMENTS-UNDERWRITING
    • ADVISORS MORTGAGE INFO
    • CONTACT US
    • ABOUT KATHIE ADLER
    • FLOWERS AND ME

EN

  • HOME
  • REVERSE MORTGAGE FAQ
  • IS IT RIGHT FOR ME?
  • PROS AND CONS
  • WHAT ARE THE SAFEGUARDS?
  • WHAT IS HECM COUNSELING?
  • FIRST TIME HOME BUYERS
  • PURCHASING WHAT NOT TO DO
  • FINDING THE RIGHT LOAN
  • POOR CREDIT -WE CAN HELP.
  • VA HOME LOANS
  • MANUFACTURED HOMES
  • DOCUMENTS-UNDERWRITING
  • ADVISORS MORTGAGE INFO
  • CONTACT US
  • ABOUT KATHIE ADLER
  • FLOWERS AND ME
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Helpful Information ~ Reverse Mortgage Long Island.com

ADVISORS MORTGAGE 888-843-9797 OR 631-804-9044

Is a Reverse Mortgage Right For Me?

Your home is your nest egg which can provide money for your retirement.

Let's face it. A Reverse Mortgage isn't for everyone. But for many seniors, a Reverse Mortgage is a perfect fit. The following questions can help you ascertain if a Reverse Mortgage is right for you:


• Do you have equity built up in your home?

• Are you looking to stay in your home for the foreseeable future? 

• Would extra money enable you to do the things you want to do?

• Are there medical or cost of home care situations you face where a Reverse Mortgage would  make life easier for you? 


If you answered "Yes" to the above questions, perhaps a Reverse Mortgage might be an option worth considering. One of the common worries about Reverse Mortgages is concern for your heirs. Discuss Reverse Mortgages with your family and trusted advisors. Perhaps there are other options that will work better than a Reverse Mortgage.

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Many Uses For a Reverse Mortgage

Help at Home - How a Reverse Mortgage Can Help

According to an AARP study, 89% of senior citizens want to remain in their homes as they age.  This has been termed "aging in place". We have found this to be true over the years as we have helped senior homeowners remain in their homes with a reverse mortgage in place. 


Are you looking to remain in your home or "age in place" as it is called and perhaps looking for in-home care but don't know how you will pay for it? Are you perhaps looking to purchase a second home closer to your children and grandchildren? Reverse mortgage cash out proceeds can help.

Whatever your situation, a reverse mortgage may be just what you've been looking for. You may be looking to supplement your income, enhance your portfolio, give gifts to your children and grandchildren, or pay off some bills.  Hopefully, the information contained in this website will  help you make the right decision about your future.

Power of Attorney

If you have a Power of Attorney, it must be durable, meaning it has to have been instituted prior to you becoming incapacitated. A power of attorney is a legal document that gives someone you choose the power to act in your place. In case you ever become mentally incapacitated, you need a "durable" power of attorney for medical care and finances.  A durable power of attorney does not end when a person becomes ill but continues and is durable. To obtain a durable power of attorney, you must show in the document your intention that the  powers will continue despite incapacity.  See your attorney for more information. 

PROS AND CONS - CLICK HERE

Important Questions & Decisions

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QUESTIONS TO ASK YOURSELF

Asking the right questions can help you determine if a Reverse Mortgage is the right vehicle for you. After all, a Reverse Mortgage is not for everyone.

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Am I going to stay in my home for the foreseeable future?  If you are planning to move in a few years, it's not the best option for you.

*How would my life change if I could get rid of my mortgage payments?  For many seniors, getting rid of a mortgage payment is life changing.  

* What would it be like to have money to do the things I've been wanting to do and to have my home work for me?

*How long has it been since I was able to go on a vacation, buy a new car, or have surplus of money for emergencies? 


* Am I leaving my home to my children or grandchildren and losing equity would not be my goal? (You CAN make a mortgage payment to retain equity).

All these questions are legitimate questions senior borrowers might consider.  Consult with family and trusted advisors, then call Advisors Mortgage for a free proposal.  A free quote will give you the numbers and figures so you will see firsthand how much money is  available to you. 

REVERSE MORTGAGE PROS AND CONS - CLICK HERE

Equity Loans and Reverse Mortgages

Similar But Different

REVERSE MORTGAGES AND EQUITY LOANS, SIMILAR  BUT DIFFERENT

Although a Reverse Mortgage is a lot like an Equity Loan, there are some significant differences.
(a) With a Reverse Mortgage, your credit number is not a determining factor.
(b) Unlike an equity loan, you make no monthly mortgage payments.
(c) With an Equity loan, if you are looking for more money, you would have to refinance. 


GROWTH RATE ON THE REVERSE MORTGAGE LINE OF CREDIT!  

With a reverse mortgage, the unused portion of the HECM line of credit grows over time at the same rate of interest charged on your loan plus 1/2% thereby giving you access to more funds without the need to refinance. Having future funds available to you for whatever you might need is a comforting feeling.  If the line of credit is utilized, you only pay back what you used.  


The Reverse Mortgage Advantage - Tax Free Growth

Your reverse mortgage proceeds come tax free and with a growth rate on your money, the program has become increasingly attractive to financial planners who work with senior borrowers.  Share this information with them and have them give us a call with any questions.


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Got Questions? Click Contact Us - Advisors Mortgage - 888-843-9797 or 631-804-9044

Request a Free Reverse Mortgage booklet and receive a free Reverse Mortgage proposal showing numbers and figures.  We hope we have answered many of your questions. Feel free to contact us with any concerns you may have.

CLICK HERE TO CONTACT US
  • HOME
  • REVERSE MORTGAGE FAQ
  • IS IT RIGHT FOR ME?
  • PROS AND CONS
  • WHAT ARE THE SAFEGUARDS?
  • WHAT IS HECM COUNSELING?
  • FIRST TIME HOME BUYERS
  • PURCHASING WHAT NOT TO DO
  • FINDING THE RIGHT LOAN
  • POOR CREDIT -WE CAN HELP.
  • VA HOME LOANS
  • MANUFACTURED HOMES
  • DOCUMENTS-UNDERWRITING
  • ADVISORS MORTGAGE INFO
  • CONTACT US

REVERSE MORTGAGE LONG ISLAND

3330 Park Avenue, Wantagh, New York 11793, United States

888-843-9797 or 631-804-9044

ADVISORS MORTGAGE GROUP, LLC  Branch NMLS 1833015, 3330 Park Avenue, Suite 1, Wantagh, NY 11793  -- 

CALL NOW: 888-843-9797 or 631-804-9044

Licensed Mortgage Banker. Licensed by the New York State Department of Financial Services, Licensed by the New Jersey Dept. of Banking and Insurance -  FOR CONCERNS OR COMPLAINTS, PLEASE CALL ADVISORS MORTGAGE:   800-778-9044 


NOTE: Website authorization by New York State Dept. of Financial Services is pending. Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site.


NOTE:  © No part of this site, [DOMAIN NAME], may be reproduced in whole or in part in any manner without the permission of the copyright owner. Site formerly Reverse Mortgage Helpline.

 

“CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. 


A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.

THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.”