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The manufactured home must be on a permanent foundation that meets HUD/FHA specifications. The foundation work may be done at the time you apply and the cost cover from the Reverse Mortgage proceeds.
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Reverse Mortgage Information SanDiego http://sandiegoreversemortgage.com
WELCOME • The Reverse Mortgage Program is available to any Senior Citizen Homeowner 62 and older. • There are no “Means Tests”. Credit history, income, assets etc are not factors in qualifying. • As long as a Senior is 62 and owns qualifying property their application will be approved.
REVERSE MORTGAGE FEES • The cost of getting a Reverse Mortgage is High, primarily because of the HUD/FHA Mortgage Insurance Premium. • The government gets a 2.00% upfront Mortgage Insurance Premium based on either the appraised value of your home or $625,500.00, whichever is less.
FIXED RATE REVERSE MORTGAGE • The benefit available under the fixed plan is very similar to the amounts available using one of the adjustable rate plans. • The H.U.D Monthly is by far the most popular. • The H.U.D. Monthly Reverse Mortgage floats above the 1 year Treasury Bill Index. If the index goes up your rate will also rise. If it falls your interest rate will fall.
CONTACT US Phone no : 800-481-9999 Address : 3045 Rosecrans St San Diego, CA 92110
THANK YOU For More Details visit http://sandiegoreversemortgage.com