RESOURCES FOR AGING WELL
Who repays a HECM loan? A HECM doesn’t need to be repaid until the borrower (and non-borrowing spouse) permanently leave the home. In most cases, HECMs are repaid by selling the home once the borrowers no longer live there. Neither you nor your heirs will be responsible for repaying
more than the value of the home. A reverse Mortgage can improve your life, but there are many considerations. If you’d like to learn more about how a reverse mortgage can help you or a loved one meet financial goals, contact us today. ~ Editor’s Note: This article was submitted by Anissa Franklin, Primary Residential Mortgage, Inc. Please contact her at 208-207-2836. See ad below. **This ad is not from HUD or FHA and was not approved by HUD or any government agency. **The loan is subject to foreclosure for failure to pay taxes and insurance to maintain the property and insurance and to comply with the terms of the loan. **Consumers remain responsible for property taxes, homeowner’s insurance, and home maintenance.
COMMUNITY RESOURCES AND SERVICES
What if I’m ready for a new home? We also offer a HECM for Purchase loan that lets you buy a new home without incurring monthly mortgage payments. This is a great option if you need to move to a smaller home, find one that is single-level or upgrade to a home with room for family.
SeniorsBlueBook.com R•R
Let Your Home Pay You Back A reverse mortgage can turn your home equity into retirement funds. •Offset living costs •Provide in-home care •Take the trip of a lifetime •Eliminate monthly mortgage payments.* *Borrower remains responsible for property taxes, homeowners insurance and maintenance costs.
Call me today to learn more!
Anissa Franklin
Loan Officer | NMLS#: 1171332
Cell: (208) 891-8774 Office: (208) 207-2836 afranklin@primeres.com 1880 S Cobalt Point Way Suite 220 Meridian, ID 83642
PRMI NMLS 3094 PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Idaho Department of Finance, #MBL-1703. This ad is not from HUD or FHA and was not approved by HUD or any government agency. Indicates website link on seniorsbluebook.com
81
