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Reverse Mortgage

Turn Your Home Value into Cash

Understanding Reverse Mortgages

A reverse mortgage is a financial tool that allows you to turn a portion of the
equity in your home into cash without making monthly mortgage payments.
Unlike traditional home equity loans, with a reverse mortgage you receive the money you need and make no mortgage payments until the home is no longer the primary residence.

Retaining Ownership

The bank will NOT own your home when you obtain a reverse mortgage. You continue to own and live in your home until you sell it, all borrowers pass away, or the home is no longer your primary residence.


There are no monthly mortgage repayment obligations with a reverse mortgage.  The loan, and interest added to the balance of your loan is repaid when the home is sold or when the last borrower is no longer living in the home. As with all mortgages, you are responsible for maintaining property charges including taxes and insurance, maintenance of the property and dues on condominiums which can be paid using the proceeds from the reverse mortgage. In addition, your home must be your primary residence and meet US Department of Housing and Urban Development (HUD), minimum property standards.


There are several FHA-insured reverse mortgage products with variable- or fixed-rate options that abide by the Federal Housing Administration (FHA) guidelines. The right reverse mortgage allows you to use the proceeds in a way you choose: whether for monthly living expenses, supplemental income, medical expenses and prescriptions, unexpected bills, home improvements or a combination of uses.

Requirements :

  • All borrowers must be age 62 or older
  • Borrowers must live in the home
  • Meet HUD property standards
  • All borrowers must meet HUD approved counselor
  • Own your home (houses and condos qualify; those with existing mortgages may also qualify)

Common Uses:

  • Purchase a new home
  • Fix up your new home
  • Lower the cost of living
  • Pay for perscriptions and health care
  • Plan for the unexpected
  • Payoff your exisitng mortgage
  • Supplement Social Security
  • Improve quality of life

Joseph Anthony Cappello
Specialty: Reverse Mortgages
Toll Free Number: 800-677-0895
Office Phone: 201 823-0700 x4021
NMLS #ID422667

Joseph C. Valenti
Specialty: Reverse Mortgage
Toll Free Number: 800-677-0895
Office Phone: 201 823-0700 x3861
NMLS #ID418782


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