Learn more about reverse mortgage programs.
Learn if you are eligible to receive a reverse mortgage.
Learn the cost involved with a reverse mortgage.
Learn the fact from frequently asked questions.
Learn what is True and what is a Myth.
Learn from examples.
What are customers are saying about our services
Learn more today! Contact us.
Feel financially secure with a reverse mortgage!
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John (J.S.) Mitchell
CPA, Founder
NMLS # - 121857
1-800-559-1032

3 THINGS TO HELP YOU:

1. Call 1-800-559-1032
or e-mail us.
We will send you our "best in the business" consumer guide to reverse mortgages. You will appreciate how simple and understandable we make reverse mortgages.
2. 24 Hour
"Educator Hotline"

1-800-350-5875
Call our 24 hour hotline and learn the following:
  1. What is a Reverse Mortgage...in plain English
  2. Myths about Reverse Mortgages
  3. How much can you get from a Reverse Mortgage
  4. Advantages (and disadvantages) versus a regular home equity loan
  5. Differences between lenders - How to choose
  6. Who should not do a Reverse Mortgage
  7. Too good to be true?

3. Try our reverse mortgage calculator

Find out how much money you can get from a Reverse Mortgage.
Learn more...

 

Myths

  1. The Bank owns my house.

    False. The homeowner retains title to the property and can choose to sell the home at anytime. The homeowner retains all future appreciation in the home.
  2. I must have good income and credit to qualify.

    False. A Reverse Mortgage has no income or credit qualifications. The qualifications are that you be at least 62 years of age, the home is your primary residence and that the home has enough equity.

  3. My children will be resposible for repayment of the Reverse Mortgage.

    False. The Reverse Mortgage is a non-recourse loan, which means the bank can never come after any person or estate for repayment of the loan. The bank can only receive payment of the loan from the value of the home.

  4. To qualify my home must be "Free & Clear".

    Not True. You may payoff a mortgage or equity loan with a Reverse Mortgage. In Fact many people get a Reverse Mortgage to payoff their current mortgage to eliminate their monthly payment.

  5. The Reverse Mortgage requires that I make monthly payments.

    Not True. There are never any monthly payments. Payment of taxes, insurance and general upkeep of the home are the only resposibilities of the homeowner.

  6. Only the "cash poor" or desperate senior citizens can benefit from the Reverse Mortgage.

    Even though some seniors may have a greater need than others for the cash or monthly income, the Reverse Mortgage can also be an excellent financial or estate planning tool.


 
   
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Note: Reverse Mortgage USA is not a CPA firm.

CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE, SIGN AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705.  COMPLAINT FORMS AND INSTRUCTIONS MAY BE DOWNLOADED AND PRINTED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.  A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.

THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS.  A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGAGED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM.  FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEB SITE AT WWW.SML.TEXAS.GOV.