What is the history of the Reverse Mortgage?
Who qualifies?
How are homeowners protected?
How are homeowners protected?
The Reverse Mortgage has gone through many developmental milestones to make it the safe financial tool it is today. Contact Jackie Hahn for tailored information on how the Reverse Mortgage can protect you.
The Reverse Mortgage has gone through many developmental milestones to make it the safe financial tool it is today. Contact Jackie Hahn for tailored information on how the Reverse Mortgage can protect you.
The Reverse Mortgage has gone through many developmental milestones to make it the safe financial tool it is today. Contact Jackie Hahn for tailored information on how the Reverse Mortgage can protect you.
The Reverse Mortgage has gone through many developmental milestones to make it the safe financial tool it is today. Contact Jackie Hahn for tailored information on how the Reverse Mortgage can protect you.
The Reverse Mortgage has gone through many developmental milestones to make it the safe financial tool it is today. Contact Jackie Hahn for tailored information on how the Reverse Mortgage can protect you.
When and how is a Reverse Mortgage paid off?
When and how is a Reverse Mortgage paid off?
When and how is a Reverse Mortgage paid off?
When and how is a Reverse Mortgage paid off?
How are my taxes, homeowner's insurance, and homeowner's association dues paid?
How are my taxes, homeowner's insurance, and homeowner's association dues paid?
You continue to pay these fess, although you will not have a monthly mortgage payment toward principal and interest.
How can I receive my funds?
How can I receive my funds?
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Some Cash Upfront
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Line of Credit THAT GROWS
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Receive monthly check from the
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Reverse Mortgage
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Lifetime (Tenure) or Term (Set # Years)
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Combination of the Above
How much equity can I access?
How much equity can I access?
The amount of Funds that you can access is based on three factors:
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Age of youngest borrower
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Value of your property (determined by and FHA appraisal)
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Current Rate
Additional Reverse Mortgage Resources:
Additional Reverse Mortgage Resources:
Jackie Hahn
Your Colorado Reverse Mortgage Expert
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Company NMLS: 2436590 Loan Officer NMLS: 1588665 CO License: 100506691
What is the history of the Reverse Mortgage?
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1961 - As the story goes, the first reverse mortgage was written in 1961 to a woman in Portland, Maine by a small, local bank. The owner of the bank wanted to help the wife of his high school football coach stay in her home after her husband passed away, even though she didn't have enough income to pay on a mortgage.
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December 22, 1987 - US Congress passes FHA Legislation.
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February 5, 1988 - President Ronald Reagan signs the bill into law and HUD gained the right to insure reverse mortgages through FHA.
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October 19, 1989 - The first FHA Reverse Mortgage loan is made to Marjorie Mason of Fairway, Kansas by James B. Nutter & Company.