Lender411, a mortgage information and rates website that helps consumers navigate the mortgage loan process, recently launched ReverseMortgages411.com, a new website dedicated to providing seniors with a clear view of the benefits and risks of a reverse mortgage. Located at www.reversemortgages411.com, the site also contains information about eligibility and the reverse mortgage application process.
ReverseMorgages411.com was created in response to data released by the National Reverse Mortgage Lenders Association indicating that an increasing number of senior homeowners could benefit from a reverse mortgage.
Seniors are an important demographic that we at Lender411 have always striven to provide resources for,” said Lender411 CEO Rocky Foroutan. “A reverse mortgage is one option for seniors who want to live financially secure throughout retirement. We believe that providing balanced information about reverse mortgages is vital to helping seniors and their families make informed financial decisions.
ReverseMortgages411.com is an online resource we are proud to offer seniors across the nation.
A reverse mortgage is a type of home loan that enables homeowners ages 62 and older to convert a portion of their home’s equity into cash, as long as they continue to use their home as a primary residence. Instead of making monthly mortgage payments, the homeowner receives payments from their lender. Over time, the amount owed on the mortgage loan increases and the amount of equity stored in the home decreases. Whether the homeowner has already paid off his or her mortgage or still has some payments to make, a reverse mortgage can offer financial security during retirement.
The rising number of senior and soon-to-be senior homeowners is expected to increase the demand for reverse mortgage products, thereby increasing the need of consumers to find a reverse mortgage lender.
Using a reverse mortgage to access equity is one option to help fund living expenses, home maintenance costs, or health care needs in retirement,” said Peter Bell, president of the National Reverse Mortgage Lenders Association. “With proper planning, seniors can use their home equity to pay off a forward mortgage and lower their monthly expenses, or they can use it for the financial flexibility needed to hold onto other assets during a down market.
ReverseMortgages411.com was created by Lender411, a mortgage information and rates website that assists consumers and mortgage professionals in navigating the mortgage loan process.
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