DeBary Florida Reverse Mortgage
Your DeBary Reverse Mortgage Guide
Welcome to DeBary
As a homeowner in DeBary, you have worked hard to build equity in your home. Now, that equity can work for you in your retirement years with a reverse mortgage loan. This type of loan allows you to tap into the equity you have built up in your home without the obligation to make monthly payments. Instead, the loan is repaid when you sell the home or pass away. Reverse mortgage loans can provide financial stability and peace of mind, allowing you to enjoy your retirement and age in place in the comfort of your own home.
Reverse Mortgage
Explore the possibilities of a Reverse Mortgage! Free yourself from worrying about monthly bills and take back control of your financial future. With a Reverse Mortgage, you can unlock the power of your home’s equity while maintaining ownership of your home. Find out today how you can start on the road to financial freedom.
Reverse Mortgage for Purchase
Did you know you can use a reverse mortgage to purchase a new home? A reverse mortgage for purchase allows seniors to buy a new home without making any monthly mortgage payments. Instead of getting an upfront lump sum payment like other reverse mortgages, the loan is used to purchase a new primary residence.
HECM to HECM Refinance
A HECM (Home Equity Conversion Mortgage) to HECM refinance, also known as a HECM loan refinance, is a type of reverse mortgage that allows a borrower to refinance an existing HECM loan with a new one. This can be beneficial for several reasons, such as lowering your interest rate, changing the loan terms, accessing additional equity, and improving your financial situation.
Cash Out Reverse Mortgage
A Reverse Mortgage allows you to take cash out of your house and use the equity in your home for the things you want. You can receive your cash as a lump sum, fixed monthly payment, or line of credit.
Jumbo Reverse Mortgage
A Jumbo Reverse Mortgage is a reverse mortgage that allows homeowners to borrow more money than allowed with a traditional HECM reverse mortgage. This is because a Jumbo Reverse Mortgage is not limited by the same lending limits set by the Federal Housing Administration (FHA) for standard HECM loans. With a Jumbo Reverse Mortgage, you can access more of the equity in your high-value home.
DeBary Approved Reverse Mortgage Counseling Agencies
HUD Approved HECM Counseling Agencies
The following is the internet website address and telephone number provided by HUD for the purposes of acquiring HECM counseling:
- HUD Office of Housing Counseling Website: www.hud.gov/program_offices/housing/sfh/hcc
- HUD’s Interactive Voice System: (800) 569-4287
National Counseling Agencies
ClearPoint Financial Solutions
(800) 251-2227
https://www.clearpoint.org/
Money Management International
(877) 908-2227
https://www.moneymanagement.org/
Credit.org
(800) 947-3752
https://www.homeownership.org/
National Foundation for Credit Counseling
(866) 698-6322
https://www.nfcc.org/
Greenpath
(888) 860-4167
https://www.greenpath.com/
Navicore
(866) 855-7736
https://navicoresolutions.org/
Guidewell Financial Solutions
(800) 882-6171
https://www.guidewellfs.org/
NeighborWorks America
(202) 760-4000
https://www.neighborworks.org/
Housing Options Provided for the Elderly (HOPE)
(844) 432-6467
https://hopeforseniorsstl.org/
Florida Counseling Agencies
DeBary Florida Frequently Asked Questions
How does a Reverse Mortgage work in DeBary Florida?
A reverse mortgage in DeBary, Florida, works similarly to a reverse mortgage in other parts of the country. The basic principle is that it allows homeowners 62 years of age or older to borrow money against the equity in their home without having to make monthly payments. Instead, the loan becomes due when the borrower moves out of the house permanently, sells the home, or passes away.
To obtain a reverse mortgage in DeBary, Florida, the borrower must meet with a reverse mortgage lender and go through a counseling session to ensure that a reverse mortgage is a suitable choice for them. The lender will also appraise the home to determine its value and the amount the borrower is eligible to borrow.
Do I make mortgage payments on my Reverse Mortgage in DeBary?
No, you do not have to make payments on your reverse mortgage. You are still obligated to pay your property taxes, homeowners insurance, general home maintenance and upkeep, and any HOA fees, if applicable. The benefit of a reverse mortgage is that you do not have to make a regular monthly mortgage payment.
What qualifies for a reverse mortgage in DeBary?
A reverse mortgage loan is only available to seniors who are age 62 or older. This type of loan has been designed to help provide a solution to allow seniors access to equity in their homes while still living there. To qualify for a reverse mortgage, you must:
How do I receive my money when I get a reverse mortgage?
With a Reverse Mortgage, borrowers have the flexibility to choose how they want to receive their loan proceeds. This can include receiving the funds in one lump sum, periodically accessing them through a line of credit, receiving regular monthly payments, or a combination of these options. Speak with a licensed Reverse Mortgage Lender to discuss your options.
About DeBary Florida
Welcome to DeBary, Florida! This small city is located in Volusia County and is home to a population of over 20,000 people. DeBary has a rich history that dates back to the 1800s when the area was first settled by the Europeans. The city was named after the DeBary family who were some of the first settlers in the area.
DeBary is a great place to visit for a variety of reasons. The city is home to many parks, community centers, and other recreational areas. Gemini Springs Park is a popular spot for locals and visitors alike. Here you can take a leisurely stroll along the boardwalk, go fishing, or take a dip in the springs. The DeBary Golf and Country Club is also a great place to spend the day.
DeBary is also home to many schools, including DeBary Elementary, River Springs Middle School, and University High School. These schools are great places for students to learn and grow.
No matter what your interests are, DeBary has something for everyone. From its rich history to its many recreational activities, DeBary is a great place to visit and explore. So come on down and experience all that DeBary has to offer!
Things To Do In DeBary
DeBary, FL Neighborhoods
Debary Plantation, Riviera Bella, Traders Cove, Debary Villas, Lake Marie Estates, Woodbound Lakes, Debary Woods, Orlandia Heights, The Reserve At Debary, Leisure World Park, Rolling Green Park, Debary Planatation, Millers Acres, Pinnacle Plaza, Parkview Heights, Swallows Golf Villas, Glen Abbey Club, St Johns River Estates, Debary Commercial, Springview Center, Adams, Springview, Riverside Of Debary Condo, Florida Lake Park Properties, Springview Industrial Park, Miller Acres, Surrey Run, Surrey Run First, Lake Hill Center Condo, Spring Glen, Olive Bluff, Benson Junction Commerce Center Condo, Parkview, Springview Commerce Park Condo, Chairman South Condo, Reserve At Debary, Landings At Summerhaven, Plantation Estates, Debary Development Builders, The Swallows, River Oaks Condo, Fairways At Debary, Volusia Park,Top Sights in DeBary, FL
Street Names in DeBary, FL
DeBary, FL Zip Codes
32713, 32753,Reverse Mortgage Regulations
HUD – The United States Department of Housing and Urban Development is one of the executive departments of the U.S. federal government. It administers federal housing and urban development laws. They state, “Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is a Home Equity Conversion Mortgage (HECM) which is only available through an FHA-approved lender. The HECM is FHA’s reverse mortgage program that lets you withdraw a portion of your home’s equity.”
Consumer Finance Protection Bureau – The Consumer Financial Protection Bureau is an agency of the United States government responsible for consumer protection in the financial sector. They state, “A reverse mortgage is a special type of home loan only for homeowners who are 62 and older. With a reverse mortgage, the amount the homeowner owes goes up–not down–over time.”
NMSL – The Nationwide Multi-State Licensing System and Registry is the record system for non-depository financial services licensing.
NRMLA – The National Reverse Mortgage Lenders Association (NRMLA) is a professional association that serves as an educational resource for the Reverse Mortgage community. The NRMLA was established in 1997 to promote professionalism and provide support and guidance to lenders and education borrowers. In addition, they prioritize educating consumers on the advantages and disadvantages of obtaining a reverse mortgage, ensuring borrowers make informed decisions. They also provide training for mortgage professionals, enforce a code of ethics, and advise policymakers on reverse mortgage issues.
Reverse Mortgage Lenders near DeBary
Call us for a free, no-obligation consultation about your Reverse Mortgage options. One of our licensed professionals will answer your questions without the hassle of a sales pitch. You’ll learn what programs you may qualify for and discover the best options that will suit your situation.
We are proud to serve the residents of DeBary. We have been in the mortgage lending business since 2002 and would be happy to provide additional testimonials and references to clients we have worked with. We look forward to serving you and welcome the opportunity to meet and discuss your individual needs.
Reverse Mortgage Resource Center – DeBary
{ "@context": "https://schema.org/", "@type": "VideoObject", "name": "Services Offered in Florida | Reverse Mortgage Resource Center", "description": "Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com Reverse Mortgage Resource Center, we specialize in providing comprehensive information on reverse mortgages to seniors. Our goal is to educate and guide our clients through the process, ensuring they fully understand their options and can make informed decisions. We offer a wide range of reverse mortgage services that can help you access the equity in your home in a way that best suits your needs. Reverse Mortgage Resource Center offers the following services: Reverse Mortgage Reverse Mortgage for Purchase Cash Out Reverse Mortgage HECM to HECM Refinance Jumbo Reverse Mortgage Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com See all of our videos about Reverse Mortgage Resource Center services here: https://youtube.com/playlist?list=PLIXdz9DLAFTCZqDlcPKA1-xtzRutjTSn1", "thumbnailUrl": "https://i.ytimg.com/vi/fPESJa2aqW0/maxresdefault.jpg", "transcript": "Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com Reverse Mortgage Resource Center, we specialize in providing comprehensive information on reverse mortgages to seniors. Our goal is to educate and guide our clients through the process, ensuring they fully understand their options and can make informed decisions. We offer a wide range of reverse mortgage services that can help you access the equity in your home in a way that best suits your needs. Reverse Mortgage Resource Center offers the following services: Reverse Mortgage Reverse Mortgage for Purchase Cash Out Reverse Mortgage HECM to HECM Refinance Jumbo Reverse Mortgage Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com See all of our videos about Reverse Mortgage Resource Center services here: https://youtube.com/playlist?list=PLIXdz9DLAFTCZqDlcPKA1-xtzRutjTSn1", "uploadDate": "2023-02-07", "duration": "PT1M1S", "publisher": { "@type": "Organization", "name": "Reverse Mortgage Resource Center", "logo": { "@type": "ImageObject", "url": "https://reversemortgageresourcecenter.com/wp-content/uploads/2023/02/Reverse-Mortgage-Resource-Center-Logo-dark.png", "width": "359", "height": "194" } }, "contentUrl": "https://www.youtube.com/watch?v=fPESJa2aqW0", "embedUrl": "https://youtu.be/embed/fPESJa2aqW0", "interactionCount": "UserInteractionCount", "genre": "Educational Genre" }, "productionCompany": { "@type": "Organization", "name": "Reverse Mortgage Resource Center" } }REVERSE MORTGAGE RESOURCE CENTER ~lIVE lIFE ON yOUR tERMS~
Our Lending Team has been serving our clients since 2004. We are passionate about serving our clients with integrity to help them achieve their financial goals.