Reverse Mortgage Myths

Are you interested in learning about a Reverse Mortgage?  If so, visit the OneTrust Senior Lending website, and request your FREE Information Kit to begin learning about how a Reverse Mortgage can change your life.  Below are a few myths that you probably hear about Reverse Mortgages, so we have gone ahead and put the facts down for you to learn.  Give us a call at 877-707-2050 to speak to a Reverse Mortgage Specialist today!  

MYTH: Just another name for a home equity loan.

FACT: Home equity loans have qualifying requirements and regular monthly payments. Reverse Mortgages don’t!

MYTH: “I can be forced out of my home.”

FACT: FHA/HUD states that the borrower cannot be forced out of the home provided it is their primary residence, in good state of repair, and property taxes and insurance are current.

MYTH: “The bank will own my home.”

FACT: The borrower retains title to the property. Since the borrower retains ownership of the home, they remain responsible for the payment of property taxes, insurance and home maintenance.

For complete Reverse Mortgage loan program details contact us today at 877-707-2050 or go to www.OneTrustSeniorLending.com

Please stay tuned for more Reverse Mortgage myths.

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