Your Long Island Mortgage Experts Since 1994, we have provided home mortgages for Long Island and the entire State of New York. Our corporate office is located in Smithtown, NY where we have been serving Suffolk, Nassau, Queens and Kings County communities for over 20 years.
Long Island reverse mortgage company, Five Star Reverse Funding has several years experience and services clients in Nassau & Suffolk County as well as Brooklyn and Queens. Contact us today for a free consulation.
A reverse mortgage loan allows homeowners on Long Island to borrow money in exchange for the equity rights of the home. A reverse mortgage loan is also a federally-insured loan and in the majority of cases, the loan does not need to be repaid until the last homeowner leaves the home permanently.
Reverse Mortgage Know Your Mortgage Banker Reverse mortgages are often hyped as a great way for senior citizens to easily get extra spending money. Or, if you’re facing a foreclosure and you qualify, you might be able to take out a reverse mortgage to save your home. But in certain circumstances, the reverse mortgage itself might also be foreclosed. Before you take out a reverse.Reverse Mortgage Commercial A reverse mortgage is a mortgage loan, usually secured over a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments. borrowers are still responsible for property taxes and homeowner’s insurance.
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A reverse mortgage can provide a lifeline to these struggling seniors. But the problem on Long Island is twofold: a lack of available proprietary products to offer (most are still not approved in New York), and a lack of education about the value of reverse mortgages on the part of the consumer and financial planners.
The rumors are true – Amazon has officially canceled plans to build a headquarters in long island city. jessica guerin is an editor at HousingWire covering reverse mortgages and the housing wealth.
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Reverse Mortgage in New York & long island. reverse Mortgage can provide the cash flow you prefer to provide for your retirement lifestyle. The applicants must be at least 62 years old to apply and get cash from the equity in their homes.
Looking for home mortgage rates in Arkansas? View loan interest rates from local banks, AR credit unions and brokers, from Bankrate.com.
Down Payment and Home Repair – Grants are available for down payment and post closing home repairs for first time homebuyers in order to improve the quality of decent, affordable housing for New York homebuyers. Down Payment Assistance – loans for down payment assistance are available for first time homebuyers with incomes up to 120% [.]