Medulla Florida Reverse Mortgage

Your Medulla Reverse Mortgage Guide

Welcome to Medulla

Are you a homeowner in Medulla looking for financial support in retirement? A reverse mortgage home loan may be the solution you’ve been seeking. This type of loan allows homeowners aged 62 and older to access their home equity without the obligation to make monthly payments. Instead, the loan is repaid when the borrower sells the home or passes away. Reverse mortgage loans can provide a stable financial foundation and allow seniors to age in place with the comfort and security of their 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.

Learn More about a Reverse Mortgage

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.

Learn More about a Reverse Mortgage for Purchase

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.

Learn More about a HECM to HECM Refinance

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.

Learn More about a Cash Out Reverse Mortgage

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.

Learn More about a Jumbo Reverse Mortgage

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Medulla 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:

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

Medulla Florida Frequently Asked Questions

How does a Reverse Mortgage work in Medulla Florida?

A reverse mortgage in Medulla, 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 Medulla, 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 Medulla?

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 Medulla?

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:

  • The youngest borrower on the loan must be 62 years old or older
  • Having an existing mortgage loan balance is OK as long as there is sufficient equity in the home
  • It must be your primary residence, not rental homes or vacation homes
  • Reverse mortgage loans are available as refinance or purchase loans.

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 Medulla Florida

Welcome to Medulla, Florida! This small city is a hidden gem tucked away in the Sunshine State. With a population of just over 5,000, Medulla is the perfect place to get away from the hustle and bustle of the big city.

Medulla was founded in the late 1800s by a group of settlers who were looking for a place to call home. Over the years, the city has grown and flourished, becoming a vibrant and welcoming community.

Medulla is the perfect place to explore the outdoors. There are plenty of parks and trails to explore, such as the Medulla Nature Preserve and the Medulla River Trail. The city also has a number of community centers and recreational facilities, such as the Medulla Community Center and the Medulla Sports Complex.

If you’re looking for a great place to learn, Medulla is home to a number of schools, including Medulla Elementary, Medulla Middle School, and Medulla High School.

So come on down to Medulla and experience the charm of this small city for yourself!

Things To Do In Medulla

MEDULLA, FL WEATHER !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src='https://weatherwidget.io/js/widget.min.js';fjs.parentNode.insertBefore(js,fjs);}}(document,'script','weatherwidget-io-js');

Top Sights in Medulla, FL


Deerbrook Drive

Sedgeford Drive

Torrington Circle

Lunn Road

Krenson Woods Road

Hidden Oaks Drive

Devin Oaks Court

Cherry Tree Drive

Belleview Drive

Stoney Creek Drive

Simmons Road

Quiet Creek Lane

Dawn Court

Stoney Creek Boulevard

Deer Tracks Court

Cherry Lane

Oakwood Knoll Drive

Eight Point Lane

6 Point Court

Stoney Creek Place

Old Road 37

Buck Run Drive

Krenson Woods Way

Deer Tracks Trail

Stone Oaks Drive

Ewell Road

Bristol Oaks Drive

Loop Road

Florida Avenue South

Bordeaux Boulevard

Grand Preserve Boulevard

Sundance Court

Redwood Street

Sundance Place Loop

Christina Park

Chianti Avenue

Groveland Lane

Whitewood Road

Festival Pointe Boulevard

Brownwood Drive

Seven Oaks Drive

RE/MAX Experts

Dosseywood Lane

Scott Lake Creek Lane

Persimmon Way

Marigold Drive

Oaklanding Drive

Loyce E. Harpe Park

Bramblewood Drive

Ogden Drive

South Harding Avenue

Orange Valley Circle

Bonnybrook Drive West

WorkerBees Staffing

Towering Pines Drive

Keaton Springs Drive

Highland Gardens Court

Seven Wetlands (Se7en Wetlands)

Lakeland Highlands Scrub

Keller Williams Realty Smart

WebPro Realty

Avery Properties Inc

Holloway Park

McGrath Poppell & Company, Inc.

Dalton Wade Real Estate Group

Banana Lake

Street Names in Medulla, FL

Appaloosa Dr Ashwood Dr Bens Ln Cherry Wood Cir Crum Ln Deer Tracks Ct
Deerbrook Dr Fairfield Dr Georgetown Dr Kirkland Rd Lakeland Dr S Lemans
Lily Rd Lis Ln Lobelia Pl Longoak Dr N Longwood Trace Way Mahaffey Cir
Mcmullen Rd Paradise Dr S Lakeland Dr Serrento Ave Shepherd Oaks Dr Sparkleberry Way
Stoney Creek Way Tancrede Ct Wilmington Blvd

Medulla, FL Zip Codes

33811, 33813,

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 Medulla

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 Medulla. 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
Phone: 385-503-2224

Reverse Mortgage Resource Center – Medulla

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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.