Finance of America Reverse
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Prepare for retirement with us! |
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Liberty Reverse Mortgage
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Learn More (866) 268-5369 | Read More | ||
American Advisors Group (AAG)
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Prepare for retirement with us! |
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Champion Mortgage
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Location
Online services available in
Lansing, MI
(855) 683-3095
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Longbridge Financial
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Location
Online services in
Lansing, MI
(855) 523-4326
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A reverse mortgage in Lansing allows senior homeowners to use the equity in their home to receive payments from a lender as long as they live in the home and continue to pay taxes and carry out basic responsibilities. The loan is generally not repaid until the homeowner dies, moves out or sells.
Current market conditions are favorable for reverse mortgages in the U.S. and within Lansing. Across the country, home equities are rising. Locally, Michigan homeowners are seeing the values of their homes go up. In Lansing, where seniors live in a variety of different neighborhoods, the housing market is rated as “slightly hot” by realtor.com. Zillow says home values in the area have increased by over 14 percent over the past year.
In Lansing, the funds from a reverse mortgage can usually be obtained in a variety of ways (monthly, lump sum, etc.) and can be used for any purpose. You might consider a reverse mortgage to supplement retirement income, to purchase another home or to help pay monthly bills, among a host of other reasons.
Most reverse mortgages in the U.S. are financed by the federal government and are known as home equity conversion mortgages (HECMs). To qualify for an HECM, a borrower must:
There are other types of reverse mortgages as well.
Single-purpose reverse mortgage | Least expensive option, but not available everywhere; can only be used for one purpose; many homeowners with low-to-moderate incomes can qualify |
Proprietary reverse mortgage | Private loans backed by companies; may allow larger advances for higher-valued homes |
Home Equity Conversion Mortgage | The most common type of reverse mortgage; insured by the federal government, and the funds can be used for any purpose |
Before choosing a reverse mortgage in Lansing, make sure you can use the funds for your desired purpose. Be certain to read and understand terms and fees. And be wary of scams; as reverse mortgages have become more popular, fraud is on the rise.
Finance of America Reverse |
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This top-ranking reverse mortgage lender makes it a priority to earn and keep your trust. Finance of America Reverse has plenty to offer: lump sum, tenure payment and line of credit options; an average closing time of 30 days; and award-winning customer service. According to customers in Lansing, if you’re unsure of what something means, the team at FAR will go out of their way to explain it to you. |
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Liberty Reverse Mortgage |
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As one of the country’s largest reverse mortgage providers, Liberty Reverse Mortgage has worked with more than 50,000 seniors since 2003, and all of that experience has led to their reputation as industry experts. Offering HECMs and a promise to match or beat all competitors, this lender is an industry favorite. Customers say they love the responsiveness and personal attention provided by Liberty Reverse Mortgage representatives. |
Learn More (866) 268-5369 | |
American Advisors Group (AAG) |
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This award-winning company prides itself on a 97 percent customer satisfaction rating from in-house surveys. American Advisors Group offers HECMs and an expert staff to assist with the process every step of the way. Customers say that although sometimes the process takes longer than they had hoped, it works out in the end and is well worth the wait. |