Maryland Reverse Mortgages

 

For most current and potential homeowners, the term ‘mortgage’ quickly brings the concept of making monthly payments to a home loan lender. Rarely do people think that the situation can reverse so that instead of you paying the lender it is them paying you every month! Sounds rather weird, doesn’t it? But it does happen when you take out a reverse mortgage. In that case, you get to borrow money from a mortgage lender against the equity in your house. They will then credit the amount in your bank account on a regular period as agreed on.

A reverse mortgage can be a lifesaver for the over 862,086 Maryland residents who are 62 years and over (as of the 2010 national census). Anybody within that age group will agree that actively working to raise income is barely an option. But thanks to the various Maryland reverse mortgages, if you are a cash-strapped homeowner you can easily get money in the bank using your house’s equity. Like any other type of mortgage, a reverse mortgage comes with tons of benefits and, of course, considerations. There are also eligibility standards, including age requirements. You will find all that information and more right here, hopefully it helps you get access to a Maryland reverse mortgage.

If you are having trouble accessing a reverse mortgage, contact TJC Mortgage and we will assist. We help every homeowner with their mortgage needs, but we have a particularly soft spot for applicants of reverse mortgages because they are our beloved senior citizens. Our crew will guide you through the necessary application process and ensure that you don’t go broke. Simply give us a call or send us an email and we will prioritize your case.

Maryland City Mortgage Service Areas