Take a second to breathe with HomeSafe Second
Access Equity with No Additional Monthly Mortgage Payments Required* HomeSafe Second is a new fixed-rate reverse loan that allows you to tap into your home equity via a second mortgage. There is no additional monthly payment requirement and no change to the interest rate on your first mortgage. The HomeSafe? Second allows borrowers to keep a first lien fixed rate, closed-ended forward mortgage, adjustable rate, or HELOC in place but take out a second lien reverse mortgage for additional funds.
HomeSafe Second is for people who need to:
Consolidate high-interest credit card debt.
Cover rising costs at the pump and the grocery store??
Fund long-term care, medical expenses, or emergencies
Pay for home improvements.
How it works: HomeSafe Second loans you a portion of your home equity via a second mortgage. There are no additional monthly mortgage payments required until you leave your home, stop paying property charges, or do not meet the terms of the loan. The balance of your loan will grow over time. When you leave the home, you or your heirs will be responsible for paying back the loan, which can be settled with the sale of the house but will never amount to more than the home’s value.? Keep in mind, you will be responsible for keeping your current first mortgage.
Whatever your goals, HomeSafe Second can help. Access equity while keeping your low interest rate today.
Contact me today to get started. Let’s have a conversation!
领英推荐
BILL KRONE, Mortgage Banker NMLS# 199750
(602) 790-4309 | [email protected]
10609 N. Hayden Road, Suite 100
Scottsdale, AZ 85260
Security National Mortgage Company, NMLS#3116
*The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid.?
This is an advertisement. This material is not from HUD or FHA and has not been approved by HUD or a government agency. If you are thinking about debt consolidation, you might want to first consult a non-profit credit counselor. The HomeSafe reverse mortgage is a proprietary product of Finance of America Reverse LLC and is not affiliated with the Home Equity Conversion Mortgage (HECM) program. Not all HomeSafe products are available in every state. Please contact us for a complete list of availability.
This article is intended for general informational and educational purposes only and is subject to change without notice and should not be construed as financial or tax advice. For more information about whether a reverse mortgage may be right for you, you should consult an independent financial advisor. For tax advice, please consult a tax professional.? The loan also becomes due and payable, and the property may be subject to a tax lien, other encumbrance, or foreclosure) when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, defaults on taxes, insurance payments, or maintenance, or does not otherwise comply with the loan terms. Interest is not tax-deductible until the loan is partially or fully repaid. This is not a commitment to lend or extend credit. Security National Mortgage Company NMLS#3116. Security National Mortgage Company home office address 433 Ascension Way, 5th Floor, Salt Lake City, UT 84123. Equal Housing Lender