Nearly 1 million Americans have taken advantage of reverse mortgages, which are FHA-insured loans that allow homeowners age 62 years and older to extend their nest eggs by converting part of the equity in their homes to cash. As part of Cambria Mortgage’s commitment to helping our customers find the best mortgage loan programs for their needs, Jeff Flanery, CRMP, Reverse Mortgage Specialist with Cambria® MortgageTM, is hosting a series of seminars for seniors and family members. At these informative, no-obligation seminars, Jeff will explain the many benefits of reverse mortgages, how they work, and who is eligible.
Get to Know Reverse Mortgages
As the name suggests, reverse mortgages are the reverse of regular mortgages where the homeowner makes monthly payments to a lender. With reverse mortgages, the lender makes payments to the homeowner either as a lump sum, fixed monthly payments, a line of credit, or a combination of these methods. Homeowners can also use reverse mortgages to downsize to smaller homes and eliminate their monthly mortgage payments. Even if you have remaining debt on an original mortgage, the funds from the reverse mortgage can contribute to paying that off, and you still may be left with residual cash.
Discover the Benefits of Reverse Mortgages
Among the many benefits of reverse mortgages, the homeowner retains title to or ownership of the home, until the selling of the property. There are no restrictions on how the funds can be used and the income does not affect regular Social Security or Medicare benefits. For additional peace of mind, homeowners or their heirs will never pay more than the appraised value of their homes.
Meet Jeff Flanery, CRMP, Cambria Mortgage
Jeff Flanery is a true expert in reverse mortgages. He has been helping people transition to reverse mortgages for nearly 17 years. “My work is extremely gratifying, as I love helping people extend their nest eggs and live better in retirement,” he says. Since joining Cambria Mortgage more than four years ago, Jeff has earned the title of Certified Reverse Mortgage Professional (CRMP) for his competency and commitment to the highest ethical and professional standards. Bestowed by the National Reverse Mortgage Lenders Association (NRMLA) in Washington, D.C., this prestigious designation is reserved for an elite cadre of mortgage professionals who have completed a stringent set of requirements and passed a rigorous exam and background check.
Mark Your Calendar and Reserve Your Place Today!
To reserve your place at a free Cambria Mortgage seminar with Jeff Flanery at our convenient Eden Prairie location, please call Gwen at 952-942-0110. If you’d prefer to schedule a complimentary consultation, please call 1-866-CAMBRIA today.