Rhode Island

Here you can get information related to Rhode Island Reverse Mortgages. Our staff is constantly updating information relevant to Reverse Mortgages in Rhode Island so check back often and fill out our form below to get a quote today!

 

If you are 62 years of age or older a Rhode Island reverse mortgage could be the answer you are looking for. If you want to travel, pay off bills, and not worry about struggling through each month with no money left over to enjoy yourself.

 

A reverse mortgage allows you to get payments sent to you  instead of you having to make them. You will be using the value of your home now, with payments not having to be repaid until you no longer own the home. The money is given back to the lender once the home is put up for sale. This allows you to spend your money now, while still living in your home.

 

In addition to the age requirement, it is also required that your home is paid off and that there are no other liens on the home. It also must be your primary residence for at least most of the year. If you are married both partners would have to sign the paperwork.

 

If you do happen to still owe a mortgage on the house, you may still be able to do a reverse mortgage. The outstanding mortgage would be paid from any money you were to receive first, you then would receive the remainder.

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Reverse Mortgage
Helpdesk

The Reverse Mortgage Helpdesk is a resource, clear and simple. It is also a free service. We want to make sure seniors and/or their loved ones who are making decisions about maintaining their home, have all the facts. Guidelines and procedures change constantly in the mortgage business. We want to make sure people who have worked all their lives are not taken advantage of by

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