Do I Have To Pay For Home Insurance with a Reverse Mortgage

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Category: Others/ Misc
     
 

Presentation Description

Yes, you are required to pay for home insurance with a reverse mortgage. Hazard insurance is always required and must be an amount equal or greater than the value of your property.

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Presentation Transcript

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Do I Have To Pay For Home Insurance with a Reverse Mortgage

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Yes, you are required to pay for home insurance with a reverse mortgage. Hazard insurance is always required and must be an amount equal or greater than the value of your property.

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What is a reverse mortgage maturity event? A reverse mortgage maturity event is when the loan become due and payable. Once the maturity event has been reached, no additional funds may be issued from the reverse mortgage. A maturity event occurs when:

The funds are tax-free and may be distributed as a lump-sum advance, monthly payments, line of credit or a combination of these options. You may use the funds for whatever you wish with no restrictions and you will not have to worry about paying any bills. :

The funds are tax-free and may be distributed as a lump-sum advance, monthly payments, line of credit or a combination of these options. You may use the funds for whatever you wish with no restrictions and you will not have to worry about paying any bills.

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For More Details You Can Visit Here Business Name Mortgage Wholesalers Address 19200 Von Karman Ave. Suite 600, CA City Irvine Country United States Phone No. 1-800-616-6256 http://mortgagewholesalers.com/reverse-mortgage/reverse-mortgage-faq/

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