Reverse Mortgages

Are you considering a Reverse Mortgage, or what we prefer to call a “Lifestyle Mortgage”?

If so, you probably have many questions or concerns, such as:

  • Is a Reverse Mortgage right for me?
  • What are the benefits of a Reverse Mortgage?
  • What are the types of Reverse Mortgage payouts?

That’s where we come in! Let Liana and her team help answer all of your questions about the Reverse Mortgage Process.


Liana Gulzow
NMLS 478593

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Why Washington Reverse Mortgage?

Are you ready to enjoy a more comfortable retirement? Stay in your home and retain ownership while eliminating your monthly mortgage payment! (Homeowner must maintain the property and remain current on property taxes, homeowners insurance, and HOA dues.) Let Liana and her team determine if a Reverse Mortgage is right for you.

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Is a Reverse Mortgage Right For You?

  1. Do you have a strong desire or commitment to stay in your own home?
  2. Do you want to enjoy your lifestyle and your senior years more?
  3. Do you need or want more savings for major or unexpected expenses?
  4. Do you have a regular need to supplement your income and find your home is your biggest asset?
  5. Do you want to live worry-free, with the peace of mind that your financial needs are managed?

If these statements sound like you, then you might be just the right candidate for a Reverse Mortgage.


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Benefits of a Reverse Mortgage

  • A Reverse Mortgage can give you more financial freedom and help you utilize that to improve your quality of life.
  • You won’t have to make any payments until the loan ends.
  • You are allowed to stay in your own home and keep your title.
  • Proceeds from Reverse Mortgages are tax-free and not considered income. (Consult a tax advisor for specific guidance.)

Do You Qualify For A Reverse Mortgage?

  1. Are you at least 62 years of age?
  2. Do you own your property outright, or is the mortgage small enough to be paid off in the Reverse Mortgage process?
  3. Do you occupy the property as your primary residence?
  4. Are you delinquent on any Federal debt?
  5. Is your home considered a single family home that meets FHA requirements?

If you answered “Yes” to all these questions, then you may be able to qualify for a HECM Reverse Mortgage.


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What Is A Reverse Mortgage?

A Home Equity Conversion Mortgage (HECM), the most common type of Reverse Mortgage, is a special type of home loan for homeowners who are 62 and older. HECM is Federal Housing Administration’s (FHA) Reverse Mortgage program which enables you to withdraw some of the equity in your home. You choose how you want to withdraw your funds, whether in a fixed monthly amount or a line of credit or a combination of both.

Mortgage Disbursement Options:

  1. Lump Sum Payment
  2. Line of Credit
  3. Fixed Monthly Payments
  4. Combination of These Options

No matter how you choose to receive your funds, you will not be required to make a mortgage payment as long as you are living in the home.


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What Should You Consider?

Reverse mortgages are a specialty loan category and may not be widely recognized or understood by a typical Loan Officer. It’s important to consult with a Reverse Mortgage Consultant like Liana who can guide you through the process with knowledge and care.

Contact Liana for a Complimentary Consultation Today!

A reverse mortgage is not a government benefit; it is a mortgage loan that must be paid back according to the program’s requirements. This material is not provided by, nor was it approved by, the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA). Cornerstone Home Lending is not affiliated with the U.S. government, nor has this information been approved by a government housing agency.