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Connecticut Mortgage: Reverse Mortgages Made Easy

Posted on August 3, 2017 · Posted in Connecticut Reverse Mortgage

Reverse Mortgages in Connecticut

 

 

If you are 62 or older and own your own home you may qualify for one of the most popular loan programs for seniors.   The loan program is the Reverse Mortgage Program or HECM.

 

If you qualify you are able to use the equity that you have in your home and turn it into cash.  You can use it to:

 

  • Pay off over due bills included back taxes

  • Home Improvements

  • Monthly income to pay everyday bills

  • Have a cushion in case of an unexpected event

  • Pay off existing mortgages or liens

A reverse mortgage does not require the homeowner to make monthly mortgage payment.  They do however have to keep paying the property taxes and homeowners insurance.

 

The loan does not need to be paid back until the last person over 62 leaves the property.  Also you can never owe more than the home is valued at.

 

If you would like to find out more about this program you can contact me at 860-334-1354 or email at craig@northeast-mortgage.com

 

 

 

craig picCraig Thibeau
Senior Loan Officer
North East Financial Middletown, CT
Ph 860-334-1354
NMLS  398576 Company NMLS 117273
craig@northeast-mortgage.com
www.northeast-mortgage.com