Reverse Mortgage FAQs
 
Who are Bob and Debbie Worley and what is Reverse Mortgage of Texas?
Can I get a reverse mortgage if I already have a mortgage on my home?
How is the U.S. Government involved with reverse mortgages?
Why is it better to get a reverse mortgage versus simply refinancing the house with a traditional mortgage?
Are fixed rate loans available?
Will I have to pay any fees out of pocket to obtain a reverse mortgage?
Are the closing costs and fees in a reverse mortgage high?
Are there any restrictions on the use of the money I receive?
Will I have to sell or vacate my home if the money I owe on the loan exceeds the value of my house?
Will my heirs owe anything to the mortgage lender?
If my home’s value appreciates during the term of a reverse mortgage, who will be entitled to that money?
How much can I borrow?
Will reverse mortgage payments affect my Social Security or Medicare benefits?
What if I decide to sell my home?
What appreciation or rise in my home’s value should I conservatively anticipate over the years of a reverse mortgage?
How safe and secure are reverse mortgages?
Will a reverse mortgage hurt my heirs or children? I always wanted the house left for their benefit.
How long does the reverse mortgage process take? When should I receive my money?
Who is eligible for a reverse mortgage?
What is the highest interest rate?

 

For more information, contact Lone Star Reverse Mortgage today.
Bob and Debbie Worley
Toll Free: 1-866-336-4633

 

 
 
 
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