The Sunshine state has a population of 21,299,325 and 1,522,753 of those people are homeowners age 62 and older, which more than one and a half million people may be eligible for a reverse mortgage. The median home value in Florida is $214,000, which is much lower than the HECM reverse mortgage lending limit of $726,525.
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A reverse mortgage loan enables Miami senior homeowners to sustain their retirement while living in the home and community they love. Contact us for reverse mortgage information and our no obligation reverse mortgage informational package. We provide reverse mortgages loans for seniors throughout Florida and surrounding area.
Reverse Mortgages in Florida. Florida, well known as the Sunshine State, is a favorite retirement spot for many reasons. From its white sand beaches and sunny weather to its low cost of living, Florida has the amenities and comforts that many seniors wish for in retirement.
A Home Equity Conversion Mortgage, or HECM, is a flexible financial product designed for homeowners aged 62 and older. The loan is insured by the Federal Housing Administration (FHA) so that borrowers will not owe more than the value of the home at maturity. With a HECM, also known as a reverse mortgage,
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LTC Global announced it has relocated its corporate headquarters to Fort Myers, Florida on Tuesday. The company is a national distributor of insurance and financial products to seniors and provides.
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Florida Reverse Mortgage Rates These rates are averages taken from data reported by the Department of Housing and Urban Development each month. Though it may not be possible for you to get the exact interest rates shown here, looking at the past few months of rates should give you an idea of what lenders in Florida should be offering you.
Gary M. Singer operates out of Fort Lauderdale, Florida, and has written on the topic of reverse mortgages in both regional and national publications. He finds a lot of value in the proposition of the.
As the reverse mortgage industry draws near to new program changes taking effect in 2015, it’s time to stop thinking about the product as a penalty or a last resort, and start thinking about it as a.