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As a licensed FHA correspondent lender, we have
all the HECM and FHA insured programs available
to us. What many people do not realize is that
there are many different types of reverse
mortgages, with varying costs, interest rates,
and loans, with or without FHA
insurance. All reverse mortgages done with MFI
are non-recourse, in that you and your heirs can
never be responsible for more than the ultimate
sale price of the home. The right one for you
depends on the value of your home, the amount of
money you request, and how you are choosing to
withdraw the money whether it be monthly,
periodically, or as one lump sum. |
