When is a reverse mortgage a good option to consider?
If your retirement income isn't enough to cover your expenses, but you have substantial home equity, a reverse mortgage may be a good solution to provide ongoing cash flow. The product can be established as a line of credit, a lump sum payment, tenure payments, or a mix of these options.
A Reverse Mortgage is also known as a Home Equity Conversion Mortgage (HECM). An HECM is a loan that enables homeowners 62 and over to convert part of the equity in their homes into tax-free income, without having to sell the home, give up the title, or take on a new monthly mortgage.
The Solution for Aging Seniors Who Need Peace of Mind.
- Allows seniors to continue living in their home
- Borrower continues to retain title and ownership
- Improved monthly cash flow with monthly payments to borrower
- No restrictions on how the money can be used
- Delay collection of Social Security Benefits
- Avoid selling other investments at a loss in a "down" market
- Supplemental retirement income with tax-free funds
- Establish a "stand-by" line of credit
- Pay for unexpected medical or long-term care costs
- Start living a better quality of life!
Request Help or Information by filling out the form below
Proudly serving New York, New Jersey, Connecticut, Pennsylvania, Florida, and Texas.
Layla Corrochano, NMLS # 51038
Garden City, New York
I have dedicated the last 10 years of my career to the reverse mortgage program. I made a commitment that I would change each of my clients lives for the better through this program.
I have built a career on doing the right thing for my clients all the time. I strive to be a Team player who relates well and works cooperatively with diverse personalities with polished communication skills: verbal, written, interpersonal presentations, and rapport building. I feel my ability to explain, source, and arrange financing for qualified potential clients streamlines the reverse mortgage process.
It is important to understand the emotion that is involved in making a financial decision such as a reverse mortgage. I am compassionate to needs of my borrowers and their families and do my job with the upmost integrity. I believe whole-heartily it is what you do that defines you, so do good all the time.
About the NCPC
The National Care Planning Council and its affiliated
members are dedicated to helping families recognize the need for long term care planning and to helping
implement that planning. Integrity, honesty, and a genuine concern for those who are in need of (or may need)
long term care are at the heart of our services.