Micco Florida Reverse Mortgage

Your Micco Reverse Mortgage Guide

Welcome to Micco

As a homeowner in Micco, 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.

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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Micco 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

Micco Florida Frequently Asked Questions

How does a Reverse Mortgage work in Micco Florida?

A reverse mortgage in Micco, 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 Micco, 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 Micco?

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 Micco?

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 Micco Florida

Welcome to Micco, Florida! This small town located on the east coast of Florida is a hidden gem that offers a unique experience for visitors. With a population of just over 2,000, Micco is a quaint and cozy place to explore.

The town was founded in the early 1900s and has a rich history of fishing and citrus farming. Today, Micco is a great place to relax and enjoy the outdoors. There are plenty of activities to do, from fishing and boating in the Indian River Lagoon to exploring the nearby parks and nature preserves.

The town also has a variety of local amenities, such as a community center, library, and a few small shops. There are also several local schools, including Micco Elementary, which is located right in town.

No matter what your interests are, Micco has something for everyone. Whether you're looking for a peaceful getaway or an adventurous outdoor experience, you'll find it here. So come and explore Micco and see why it's a great place to visit!

Things To Do In Micco

Micco, FL Neighborhoods

Barefoot Bay, Little Hollywood, Snug Harbor Village, Sebastian River Estates, Bay Crest Villa, Bankers Reserve, Survey Of Sebastian Oaks, Briere, River Haven, Arens Wild Acres, San Sebastian, Pineridge Heights, Haven Green Pinewood,

Top Sights in Micco, FL


Hyacinth Circle

Oleander Circle

Barefoot Circle

Wren Circle

Waterway Drive

Dolphin Circle

Marlin Circle

River Grove Drive

Bannock Street

Hopetown Road

Redbud Road

Kiwi Drive

Cashew Circle

Chasta Road

Lark Drive

Montauk Avenue

Periwinkle Circle

Egret Circle

Jacaranda Drive

Sebastian Road

Steamboat Drive

Barefoot Boulevard

Lantania Drive

Harborhill Drive

Kumquat Drive

Manila Drive

Thrush Circle

Fleming Grant Road

Agawam Road

Papaya Circle

Plover Drive

Seagull Drive

Laurel Circle

Evergreen Street

Tamarind Circle

Tequesta Drive

Tarpon Drive

River Drive

Lago Vista Dr

Sebastian Inlet State Park

Barrier Island Sanctuary

BC47 Camping Island

Bonsteel Park

North County Pool

Indian River Lagoon Preserve State Park

South Beach Community Park

Archie Carr National Wildlife Refuge

Maritime Hammock Sanctuary

Orchid Island

Sebastian Inlet

Micco Scrub Sanctuary

Street Names in Micco, FL

11th St 12th St 14th St 15th St Agawam Rd Akee Dr
Amaryllis Dr Areca Dr Avocado Dr Backwoods Ave Bannock St Barberry St
Barefoot Blvd Bird Dr Bison St Blackhawk Rd Bougainvillea Cir Boxelder Rd
Boychuk Pl Bunting Ct Canary Dr Cashew Cir Ne Cashew Cir Nw Cashew Cir Se
Cashew Cir Sw Cedar Bark Rd Central Ave Chasta Rd Cherish Dr Connor Rd

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 Micco

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 Micco. 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 – Micco

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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.