(12PressRelease.com) Financial services have changed dramatically over the last couple of decades. Many older homeowners who purchased their homes in a very different financial landscape can benefit from independent advice when seeking a reverse mortgage quote. Counseling is now required to obtain a reverse mortgage, and the more the independent counselor knows about the reverse mortgage a client is pursuing, the more specific and helpful the information provided will be.
“At Legacy Reverse Mortgage, we are happy to provide details of our quotes with independent counselors,†said James Cory, the company‘s president. “We want our customers to understand what they are signing and be entirely satisfied it is the best option, so we would encourage our clients to give us permission to share Reverse Mortgage Quotes with their independent counselor.â€
Clients Can Learn the Basics of Reverse Mortgages Online
Legacy Reverse Mortgage‘s website at www.legacyreversemortgage.com offers clear information about how reverse mortgages work as well as online tools such as a reverse mortgage calculator. But the company fully supports the HUD regulation requiring independent counseling so homeowners get as much information as possible about reverse mortgages to help them ensure that a reverse mortgage is the best option for their individual situation.
A reverse mortgage allows homeowners aged 62 or older to convert their home equity into cash. A reverse mortgage amortizes in reverse, meaning the balance grows over time because monthly mortgage payments are not made. The reverse mortgage company does not own the house - homeowners do and must still pay taxes and maintain home owner‘s insurance. If the house is sold or the homeowner dies, the reverse mortgage is paid off along with interest and predetermined fees.
Legacy Reverse Mortgage is one of America‘s fastest growing reverse mortgage providers. Legacy‘s management team has more than 20 years of combined experience in reverse mortgages, making Legacy Reverse Mortgage one of the most knowledgeable reverse mortgage lenders in the country. Legacy was founded on the core principles of integrity, value and shared success and works to provide all customers with an honest and fair solution to their home financing needs. The company‘s website, www.legacyreversemortgage.com, offers clear information about the financial products available and the legal guidelines for eligibility as well as a Reverse Mortgage Calculator.