Introduction to Reverse Mortgages

Many homeowners have found that a reverse mortgage is a great way for them to take advantage of the equity they have built up in their homes.

A reverse mortgage is different than a traditional mortgage. With a traditional mortgage you make monthly mortgage payments, but with a reverse mortgage the lenders pays you money through monthly installments or a one-time lump sum payment. The money that you receive is dependent on your age and the value of your home.

One of the great advantages of a reverse mortgage is that you are not required to pay the loan back until the home is no longer your primary residence For more information on when a reverse mortgage comes due click here. Another great feature of a reverse mortgage is you can never owe more than the value of your home. No matter what.

If you’re aged 62 or older and own your home you might be eligible for a reverse mortgage. Contact us to find out more about reverse mortgages and ways to make it work for you, or apply now and start the process of tapping the equity in your home.

Check out these pages for more information about reverse mortgages.

New York Mortgage Exchange

369 Avenue X
Brooklyn, New York 11223
Phone: 718-339-3600
Fax: 718-339-3655
Email: info@nyme.com
NMLS: 93848

Licensing

New York Mortgage Exchange (NMLS# 93848) located at 369 Avenue X, Brooklyn, New York 11223 is a Registered Mortgage Broker - NYS Department of Financial Services License A000701. Licensed Mortgage Broker NJ Dept of Banking & Insurance # 303170.

All loans are arranged thru third party providers.

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