How Do I Receive My Money?

Reverse Mortgage Payment Options

All at once - as a lump sum
The borrower receives an immediate cash advance at closing. A lump sum of cash paid to you on the first day of the loan.

As a home equity line of credit - withdraw cash as needed
A home equity line of credit account is set up that lets you take cash advances whenever you choose during the life of the loan - until you use it all up.

As a monthly income supplement - increase your income
You can receive your proceeds in the form of monthly payments. You select from the following options of how to receive your payments.

1) Term Payments - You can choose to be paid for a specific number of years that you select.
2) Tenure Payments - for as long as you live in your home.

A combination of all the above
You can create any combination of immediate lump sum cash advance or a equity line of credit account or either form of monthly income.

Senior Finance Network - 10121 W Sample Rd. - Coral Springs, FL 33065
Toll Free: (800) 827-2599 Office: (954) 755-4663
Fax: (954) 755-8550 Email: Info@SeniorFinanceNetwork.com

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FAMB - Florida Association of Mortgage Brokers