Florida Reverse Mortgage Banker Reveals The Facts About Reverse Mortgage Loans

Tampa, Florida based Reverse Mortgage website is designed to give Florida residents all the facts about the FHA Insured Home Equity Conversion Mortgage (HECM) so they can make an educated decision when considering a reverse mortgage
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March 5, 2012 - PRLog -- Tampa, Florida based Reverse Mortgage Consultant Chris Beard reveals reverse mortgage refinancing secrets at a new web site that is full of free reports, HECM guide’s and free reverse mortgage calculators. The site is designed to give Florida residents all the facts about the FHA Insured Home Equity Conversion Mortgage (HECM) so they can make an educated decision when considering a reverse mortgage.
It seems like everyone in Florida is jumping on the reverse mortgage refinancing program before HUD’s new financial assessment takes place and increasing the qualifications for seniors. Maybe you’re thinking about it yourself? After all, with rates as low as they are, the promise of eliminating your monthly payments and having a cash reserve, is a great attraction for many retired homeowners.
But before you sign on the dotted line, there are a few things you should know about the way reverse mortgage works so you don’t make a mistake that could wind up costing you big time.
“With the reverse mortgage as popular as it is right now, Florida residents have to be even more careful about shopping for the best loan for them,” says Chris Beard a Tampa, Florida based mortgage reverse consultant. Depending on your needs different loan disbursements may be more practical for some who need cash today while others may be choose another for future needs.
“Even the most attractive offer can wind up being a disaster once you realize how much the loan is really costing you.”
Chris Beard offers these tips when considering refinancing:
*You should either have a purpose for the cash for the lump sum option HECM reverse to make sense. Don’t rush to refinance unless it’s truly worth your while. If you’re working with a Reverse Mortgage Consultant that has access to different lenders and programs rather than going with one specific lender, you can be assured that they’re bringing you the best offers out there. If you’re going it alone, you’ll have to do the legwork for yourself.

* If you don’t need the cash right now today, but like the idea of your house being converted to a liquid asset you can easily assess in a time of need consider the reverse mortgage Libor with an equity line this way your building equity in your home and your cash line at the current interest rates but in an emergency you can simply write a check, plus this offsets the cost of the loan while it earns interest just like a mutual fund.
Currently credit and income will not inhibit you from qualifying for a reverse mortgage but as Lenders and HUD begin to implement the new financial assessment some seniors may not qualify who previously would have. Don’t wait yourself out of the game. if you choose to let an consultant get involved in the process, they can often find loan options that most senior homeowners have not even considered – which can save you thousands over the long haul.

Tampa, Florida based reverse mortgage expert Chris Beard specializes in providing reverse  mortgage information to Tampa Florida residents that allows them to make informed decisions about their reverse mortgage options and learn the insider secrets that can simplify the retirement years. view our video regarding What is a reverse Mortgage and How does it Work http://youtu.be/4H3aRmT8AYg

Chris Beard is available for interviews and will welcome all your reverse mortgage related questions.
Call {Chris Beard at 866.684.7868 for a Free No-Obligation Consultation or visit http://www.GoLocalReverseMortgage.com

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Go Local Reverse Mortgage connects senior homeowners with National HECM approved reverse mortgage lenders and specialist to qualify, determine eligibility, educate and simplify the reverse mortgage process by walking them through step by step.
Source:Chris Beard- Go Local Reverse Mortgage
Email:***@golocalreversemortgage.com Email Verified
Tags:Tampa, Clearwater, St Petersburg, Sarasota, Florida, Reverse Mortgage
Industry:Finance, Consumer, Mortgage
Location:Florida - United States
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