Senior homeowners in New York may find it difficult to locate reverse mortgage information specifically for them. Senior Home Loans is a New York Reverse Mortgage Lender, available to help educate seniors and their loved ones about a government insured reverse mortgage. With the rising cost of daily living expenses, senior home owners in New York can benefit from accessing the equity on there home. To contact a New York Reverse Mortgage specialist, email us or call 800-817-7114 anytime.
The only difference between the New York Reverse Mortgage and New York “Forward” Mortgage is that instead of the senior making monthly payments on the mortgage, the property makes a monthly payment with its available equity. The senior will always remain on the title / deed of the home and can sell the property at any time. As Senior Home Loans CEO Jason Levy explains, “The Reverse Mortgage turns debts with payments into debts with no payment obligations."
The Reverse Mortgage is also known as the “HECM” Home Equity Conversion Mortgage, as it allows seniors access to the equity within their home. Click the links below to view additional New York Reverse Mortgage qualification information:
Senior Home Loans, 175 Pinelawn Road, Suite 100, Melville NY 11747 is a DBA of Continental Home Loans Inc. NMLS# 13677, a Licensed Mortgage Banker and Equal Housing Lender in the following states: CA: Licensed by the Department of Corporations under the California Residential Mortgage Lending Act, No. 4130790CT: Connecticut Department of Banking NO. 14238 DE: State of DE Office of the State Bank Commissioner NO. 9488 FL: Office of Financial Regulation NO. MLD525 GA: Georgia Department of Banking and Finance 34421 IL: Illinois Dept. of Financial and Professional Regulation MB.6760488; Commissioner Contact Info: 122 S. Michigan Ave, Suite 1900, Chicago, IL 60603 Phone 312-793-3000 MA: Consumer Affair & Business Regulation No. ML3283 MD: Department of Labor, Licensing, & Regulation NO. 19206ME: Department of Professional & Financial Institutions. NO. SLM91108 NH: Banking Department NO. 16508-MB NJ: Department of Banking & Insurance NO. 0624523 NY: New York State Department of Financial Services NO. B500799 PA: Pennsylvania Department of Banking NO. 22742 RI: Department of Business Regulation NO. 20102656LLSC: Department of Consumer Affairs: Virginia State Corporation Commission as MC-5206VT: Department of Banking, Insurance, Securities, and Health Care Administration; TX: Department of Savings & Mortgage Lending NO. 71263, dba CHL Mortgage Company; SHL Mortgage CompanyClick here to view the TX Disclosure Statement