Senior Homeowners are real winners when doing a HECM reverse mortgage?
post by Sam Collins
One of the very first questions I am asked when meeting with my senior homeowner clients is, “Why are the closing costs to do a reverse mortgage are so expensive?” Thanks to recent changes within the reverse mortgage lending community, senior homeowners can now enjoy a much lower than ever expected costs to do a reverse mortgage.
Specifically most of the recent changes have affected the fixed rate HECM product. Most lenders have eliminated the service fee aside and some have eliminated or reduced origination fees. The bottom line is this; some of the highest cost associated with doing a HECM fixed mortgage have been significantly reduced.
The winner with all these changes are senior homeowners. Why? Because these reduced cost measures mean more money in the pockets for senior homeowners, making a good deal ever better.
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For a free informational package on reverse mortgage programs,
call Sam Collins, Delaware Financial, 877-266-9500 toll-free.
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For more information or to ask a question, you can email
Sam by using the contact form at the top of this page.
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If you want to see how much you qualify to receive,
for your reverse mortgage, you are welcome to use our
Free reverse mortgage calculator:
http://www.seniorsrighttoknow.org/calculator.html
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