⏰Reverse Mortgage Explained in Under 60 Seconds #reversemortgage #reversemortgages #shorts

⌚ Here is Reverse Mortgage Explained: Teaching you all about Reverse Mortgages in 60 seconds. Most people take hours to go over this loan...which is way simpler than you think!

So here's the deal; a Reverse Mortgage is just a mortgage with flexible payback terms. You can make payments if you want to...although most folks choose not to. You can get the cash up front, in a line of credit or as monthly income.

And today's Proprietary Reverse Mortgage only requires you to be 55 to qualify!

For the rest of the details...watch the video. It's only 60 seconds after all!

Jason

Here's the legal/compliance info
Key Home Lending, LLC; NMLS 2103187.
DBA Reverse Mortgage Reality
2345 Waburton Terrace, Wellington, FL 33414
Licensed in FL, CA, PA, NJ, MD, CO, TX, SC
Licensed by the PA Dept of Banking
Licensed by the NJ Dept of Banking and Insurance
Licensed by the Dept of Financial Protection and Innovation under the California Residential Mortgage Lending Act
Loans made or arranged pursuant to a California Finance Lenders Law License
Equal Housing Opportunity
Loan Originator Jason Eichmiller NMLS 297995

[ew]

Yep im all in on a reverse mortgage. Im not leaving nothing on the table when i die. Im still working but when i decide to retire im going to blow every dime fishing around the world.

[Josh-pgqb]

When they have to repeatedly tell you it’s just a loan and say all the positives you know it’s a scam.

[Shanonmcnab]

Don't do it. The Government is driving people into this by taxing taxing and more taxing in otherwords taking money you could have used for retirement savings. These guys own your home until you pay them back for what you owe after borrowing. Everything has a catch, remember that. Do your due diligence.

[wheelie]

Nice but explain the interest in under 60 seconds. How much will my kids have to pay if i borrowed 500K plus 15K loan costs.
Give me example so I can understand if my kids will pay 600K or like 900K

[saltyfry]

Why not just do a cash out refi? You can just pay your mortgage with that (essentially same thing the reverse mortgage is doing) and not have the higher interest rate that a reverse mortgage entails. I can understand using a reverse mortgage as essentially a HELOC that never expires though. Im just asking cause im a new MLO and want to learn the products pros and cons

[georgeharleydavidsonrider]

Great video. My house has an estimated value of $370, 000 and it’s paid for. How much money could I get on a reverse mortgage?

[TurfShifter]

When it sounds like a scam it's likely a scam. This guy doesn't looks or sound like someone who can be trusted.

[gpinkard]

I know of someone with a reverse mortgage and 12 years later the amount owed has😢 doubled in interest. Doesnt seem like a good deal for heirs whose equity in home being ate up by interest?

[mrss]

Please advice!! My sister who is 45 lives with my mom. When my mom passes away my mo is leaving her 4 daughters her house. How should we handle this situation?? My sister who is currently living with my mom doesn't want to keave has no job and will make it a nightmare. Help me please

[artsathish]

Sir. I am from India, Tamil nadu.Suppose if the property belongs to female owner & she is 45-50 age then is she eligible for this kind of loan. Pls reply.

[frankiedoor]

What is the interest how much interest at the end of a loan very important

[weirdphax]

i have a question...
how does it feel making a 70 year old widow homeless in winter feel???

[LarryLarr]

Hi
Thanks for sharing
How Can a home owner
Reverse a reverse mortgage.
Meaning they want to take back ownership of their house.
I'll have lots more questions if the answer is yes

Later
Lance

[sunshinegirl]

I was told that if I want to buy my parents home after both have passed then I would pay market value even though they owe less than market value. However, I think if I were to buy it now while they are alive then I can pay off what is owed and nothing more. I think I need a lawyer lol Im in NY, and could be different here.

[MichelMawon]

There's more to the story and a reverse mortgage isn't just one thing. The commonality between them is that you have to be a "senior." In all scenarios, the loan is called due when the homeowner dies, and it is not at all a clean pass to your heirs. You don't get to refinance a mortgage that you're not on and wven being on title wouldn't keep your heirs from having to repurchase the house. It is not a great way to leave heirs your property.

[bunnymaldonado]

Ok, I was confused. Makes sense. Would you do one if needed?

[naturally_nikki]

Must the home be paid off to get a HECM?

[breadwinningbiscuit]

Reverse mortgage is like a wet fart. Might not sound bad but it ultimately will stink.

[tinam]

FINALLY, a fast, COMPREHENDIBLE explanation. Thank you.

[nursewratchet]

Can you sell this home while in a reverse mortgage?