Reverse Mortgage FAQ!
Welcome to my Reverse Mortgage FAQ video! I hope this can help answer any questions or concerns you may have about the reverse process. As always, I am here to help, so please get in touch to learn more and begin your reverse journey!
Shanne Sleder
Mortgage Advisor/Branch Manager
NMLS# 239958 | DRE# 01346265
858.829.7186 | 858.519.3935
[email protected]
SanDiegoMortgageNews.com
11234 El Camino Real, San Diego, CA 92130
HECM stands for Home Equity Conversion Mortgage, which is a type of reverse mortgage that allows homeowners to withdraw equity from their homes.
00:00-00:47 Intro
00:48-01:36 What is a reverse mortgage?
01:37-02:20 How is the reverse mortgage loan amount determined?
02:21-3:22 What are some common misconceptions?
03:23-04:39 I have heard reverse mortgages are non-recourse loans, what does that mean?
04:40-05:34 Does the required mortgage insurance benefit me?
05:35-07:01 What are the eligibility requirements for a reverse mortgage?
07:02-08:25 What are my options for accessing the equity?
08:26-09:17 What is the line of credit growth rate?
09:18-10:12 Can I make a payment on my reverse mortgage and what are the benefits?
10:13-11:17 What is the difference between a Home Equity Line of Credit or HELOC and a Reverse Mortgage Line of Credit?
11:18-11:46 How can a reverse mortgage help me get more money from social security?
11:47-12:18 How is the reverse mortgage paid back after the last borrower passes away?
12:19-13:16 When is a reverse mortgage not a good option?
13:17-13:44 What are the benefits of using a reverse mortgage to purchase a home?
13:45-14:22 Outro
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