Reverse Mortgage Austin Texas
Reverse Mortgage Services for Austin Texas Homeowners
Welcome to the Austin, TX Reverse Mortgage Help Resource
Bob and Debbie Worley are your Austin, Texas licensed reverse mortgage experts. Bob and Debbie serve Austin and the entire state of Texas meeting with 85% or more of their clients face-to-face. Bob and Debbie’s home is just west of Austin in Horseshoe Bay. If you live within a 300-mile radius, either Bob or Debbie, or both of them will drive to your home and answer your specific question and concerns about obtaining a reverse mortgage.
“We do not travel to an individual’s home to pressure them into doing a reverse mortgage. Our goal is to evaluate their individual and specific situation and help them determine if a reverse mortgage is in their best interest. Reverse mortgages are not for everyone and so sometimes it is not a fit and we tell them if a reverse mortgage is not for them. Sometimes a reverse mortgage is a true benefit and offers a smart and safe solution to the homeowners needs. All situations are different, so it’s necessary to communicate with everyone on an individual basis to determine their exact needs.”
Please contact Bob and Debbie at Lone Star Reverse Mortgage, Inc for additional details and program offerings. Contact Us if you would like to know how much money is available to you or request a Reverse Mortgage Quote and fill out the appropriate information. Tel: 512-361-5590
Bob and Debbie have been originating reverse mortgage loans in Texas for over a decade and they would like to earn your trust and be your resource for reverse mortgage information. Bob and Debbie will make certain that you understand how a reverse mortgage loan works and help you determine if it’s right for you. Should you decide that the reverse mortgage is right for you, they will also help you obtain a reverse mortgage loan, walking you through the loan process step by step.
Reverse Mortgage Information
- Borrowers must be Age 62 years or older
- Own their home and have significant equity in their home
- Occupy the home as the primary residence
- Receive counseling by an approved HUD/FHA counselor
- Homeowners must pay their taxes, insurance, and basic home maintenance
Homeowners must be at least 62 years of age or older and must occupy the home as their primary residence. The homeowner will need to own the home outright or have a low enough balance on the existing mortgage that it can be paid off from the proceeds of the reverse mortgage. Credit and income are taken into consideration when determining a borrower’s eligibility to ensure that a homeowner is able to pay their taxes, insurance, and basic home maintenance.
The HECM (Reverse Mortgage) is insured by the Federal Housing Administration. The FHA guarantees that HECM lenders meet their obligations, governs how much money HECM lenders may loan to qualified borrowers, limits loan costs, and requires reverse mortgage counseling.
Understanding Reverse Mortgages
No monthly mortgage payments are required because a reverse mortgage enables homeowners age 62 and over to borrow against the equity in their homes without having to sell the home, give up the title, or take on a new monthly mortgage payment. This financial program is called a reverse mortgage because the payment stream is reversed. Instead of making monthly mortgage payments to a bank or lender, as you would with a regular mortgage, the lender or bank makes payments to you.
Contact Bob and Debbie Worley now to get detailed information on your specific circumstances. We want to personally understand your needs and accurately answer all your questions based on your individual situation. When considering a reverse mortgage you should make the decision with all the facts in hand and with all of your questions answered directly and honestly. We are here to give you the facts and most up-to-date information available in reverse mortgage industry in Texas.
Please call us at 512-361-5590 so we can get started on helping you improve your financial future. Bob Worley – NMLS # 211905 – TX Lic.# 50404 Debbie Worley – NMLS # 211059 – TX Lic. # 67929 Lone Star Reverse Mortgage, Inc. NMLS # 769381 Lone Star Reverse Mortgage, Inc. 207 Keel Way, Horseshoe Bay, Texas 78657