Reverse Mortgages in Florida

The number of HECM reverse mortgage loans in Florida has increased 35% since 2014. 1 As one of the largest reverse mortgage lenders in the nation, Liberty Home Equity Solutions, Inc. (Liberty) has helped more than 1,100 Florida homeowners since 2011 2 discover how a reverse mortgage loan can help them access the funds they need to plan for a more secure retirement.

A reverse mortgage can use up the equity in your home, which means fewer assets for you and your heirs. If you do decide to look for one, review the different types of reverse mortgages, and comparison shop before you decide on a particular company.

If you’ve thought about taking a reverse mortgage, be aware that new rules might make it harder for you to qualify Are Reverse Mortgages Helpful or Hazardous? Often considered a loan of last resort for older retirees, reverse mortgages are there for homeowners who worry about outliving their savings

When considering a reverse mortgage there are three types offered. The most suitable reverse mortgage will vary for each applicant and will be dependent upon.

Reverse Mortgages in Florida Strengthen financial flexibility in retirement with the best reverse mortgage lenders in Fort Myers. Use this guide to reverse mortgage details.

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Reverse mortgages: 15,000 older Florida homeowners at risk of foreclosure and homelessness. The loans enable seniors to age in place but have failed many who can’t pay insurance or taxes.

Florida Reverse Mortgage Rates. 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. Date Fixed Rate Adjustable Rate 01/01/15 4.97% 2.90% 02/01/15 4.96% 2.93% 03/01/15 4.97% 3.05% 04/01/15 4.90% 3.11%.

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For Luther and Peggy Combs, their reverse mortgage is a lifeline that saved their home from foreclosure. The Combses, both in their early sixties, had high hopes for a comfortable life when they moved.

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Reverse Mortgages, sometimes called Home Equity Conversion Mortgages (HECMs), have helped thousands of seniors maintain their independence. This type of mortgage allows homeowners age 62 or older to use the equity in their homes for repairs, to pay down debt, or make large purchases-all with the option of no monthly mortgage payment.