South Greeley Wyoming Reverse Mortgage

Your South Greeley Reverse Mortgage Guide

Welcome to South Greeley

As a homeowner in South Greeley, 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 home 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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South Greeley 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/

Wyoming Counseling Agencies

Agency Name: GREENPATH FINANCIAL WELLNESS
Agency ID: 84260
Address: SUITE 316
2232 DELL RANGE BLVD
CHEYENNE, WY 82009-4941
Phone: (888) 860-4167
Website: https://www.greenpath.org

Agency Name: WYOMING HOUSING NETWORK, INC.
Agency ID: 84682
Address: 2345 E 2ND ST
CASPER, WY 82609-2048
Phone: (307) 472-5843 ext 5843
Website: https://www.whninc.org

South Greeley Wyoming Frequently Asked Questions

How does a Reverse Mortgage work in South Greeley Wyoming?

A reverse mortgage in South Greeley, Wyoming, 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 South Greeley, Wyoming, 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 South Greeley?

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 South Greeley?

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 South Greeley Wyoming

Welcome to South Greeley, Wyoming! This vibrant city is home to a population of over 25,000 people and is a great place to visit or call home.

South Greeley has a rich history that dates back to the late 1800s. It was founded in 1891 and was originally a small farming community. The city has since grown and now has a variety of businesses, shops, and restaurants.

South Greeley is a great place to explore and experience the outdoors. There are plenty of parks and trails to explore, including the South Greeley Park and the Greeley River Trail. You can also visit the Greeley Community Center, which has a variety of activities for all ages.

If you're looking for a great place to learn, South Greeley has several schools, including Greeley High School and Greeley Elementary School.

No matter what you're looking for, South Greeley has something for everyone. From its rich history to its outdoor activities, South Greeley is a great place to visit or call home.

Things To Do In South Greeley

Top Sights in South Greeley, WY


West Prosser Road

Country West Road

Westview Drive

Pine Avenue

Rooks Avenue

Little Valley Trail

South Fork Road

Avenue B 2

South Greeley Highway

Julianna Road

Cherry Street

Middle Fork Trail

Sonata Lane

Desmet Drive

Stinson Avenue

South 5th Avenue

West Allison Road

East Prosser Road

Deming Drive

Dayshia Lane

West College Drive

Broken Wheel Court

Maddies Way

Targhee Avenue

Pack Saddle Road

East 17th Street

East 20th Street

East 22nd Street

Goodnight Trail

Hunters Way

West 5th Street

East 27th Street

Troyer Drive

Blue Norther Lane

Ledoux Drive

Oxford Drive

East 12th Street

West 31st Street

Bent Avenue

East 19th Street

Logan Avenue

McComb Avenue

Hot Springs Avenue

Southeast Wyoming Welcome Center

East Pershing Boulevard

Gregg Way

Kester Street

West 5th Avenue

Ridge Road

Windwood Drive

Clear Creek Parkway

East 6th Street

Madison Avenue

Hickory Place

Everglade Drive

Springer Court

Marble Avenue

Shannon Avenue

Garden Court

Bonneville Place

Pike Street

Windsor Boulevard

Bomar Drive

Logan Avenue

County Road 74

NCAR-Wyoming Supercomputing Center

Street Names in South Greeley, WY

10 Sleep Drive 10th Street, East 10th Street, West 11th Street, East 11th Street, West 12th Street, East
13th Street, East 14th Street 14th Street, East 15th Street, East 15th Street, West 16th Street, East
16th Street, West 17th Street, East 17th Street, West 18th Street, East 18th Street, West 19th Street, East
19th Street, West 1st Avenue, East 1st Avenue, South 1st Avenue, West 1st Street 1st Street, East
20th Street, East 20th Street, West 21st Street, East 21st Street, West 22nd Street, East 22nd Street, West

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 South Greeley

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 South Greeley. 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 – South Greeley

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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.