A Lexington Herald-Leader article about reverse mortgages, featuring Lexington Investment Mortgage Company, is available here. New York Times article about reverse mortgages is available here (requires Acrobat Reader).
Click here for more information about our LEXINGTON REVERSE service.
Check these links for more information on Reverse Mortgages:
For many seniors, their homes are their biggest financial asset, representing their largest and often most overlooked source of extra income. In the past, senior homeowners who needed money essentially had two options. One, they could sell their home and move. Two, they could borrow against their home and then face monthly loan repayments.
Today, there is a third possibility: LEXINGTON REVERSE - a reverse mortgage service of Lexington Investment Mortgage Company.
A reverse mortgage provides funding to senior homeowners, age 62 and older by converting a portion of the equity in their home into tax-free* income—without having to sell their home, give up title or make monthly mortgage payments.
It works much like a traditional mortgage, only in reverse. Rather than making a payment to a lender each month, the lender pays the homeowner. This money can provide seniors with the financial security needed to enjoy their retirement years.
Funds are provided by Financial Freedom, the nation’s largest reverse mortgage lender, and are subject to their restrictions and guidelines. Please e-mail us for more information.
Qualifications
- Must be at least 62 years of age
- Home must be the primary residence
- Home does not need to be owned “free and clear,” reverse mortgages can be used to pay off existing mortgages
- No income requirements
- Minimal credit check
Benefits
- Tax-free* monthly income
- Easy access to the equity built in your home
- Eliminates monthly mortgage payments
- Receive funds through a combination of payment options
- Allows homeowners to continue living at home
- Provides funds to improve quality of life and can be used for any purpose, such as paying for family caregivers, home repairs, care coordinators or prescription drugs
