have proven invaluable to hundreds of thousands of American retirees, fulfilling their needs and enhancing their lives.
Incorporating a reverse mortgage into your retirement strategy can serve as a valuable asset, providing immediate benefits and ensuring long-term financial security for
Reverse Mortgages
today, tomorrow and for years to come.
Meet Our Certified Reverse
Mortgage Professional in Tucson, AZ
Tina Steele
We understand that navigating reverse mortgages and finding the right reverse mortgage company can be overwhelming. That's why we created this guide to simplify the process with a clear reverse mortgage explanation, providing essential reverse mortgage information, including the pros and cons of a reverse mortage.
Our commitment is to provide you with the knowledge you need to make informed decisions about your financial future.
I have made reverse mortgages my niche of business in the mortgage industry since 2007. After seeing the benefit of the program for my grandmother in Washington State, I knew this could be a tremendous program for the right person here in Tucson. I spend the time to fully explain the program options for many different reasons' it's a big decision and one that takes time to make. My clients will never feel any pressure from me but will get all information up front to make the decision that is right for them.
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Living in Oro Valley with my husband and two teenage boys gives me the advantage of providing local reverse mortgage education to Tucson clients. As a dedicated Tucson Reverse Mortgage Broker, I truly love what these programs can do for folks, and I see it repeatedly.
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At Penny Lane Reverse our customer service is above and beyond. We treat our clients with respect and kindness. This program is not for everyone, but for those that it fits, it can be a tremendous benefit. I have seen it happen loan after loan. This work is so satisfying and it is truly a pleasure to serve this community.
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NMLS #250989
| CRMP
Access the Capital You Require with a Reverse Mortgage in Tucson, AZ
We are your trusted Reverse Mortgage Lender in Tucson, AZ and we specialize in helping eligible customers aged 62 and older unlock a portion of their home equity, enabling them to access funds without the burden of making monthly mortgage payments.
When planning for retirement, homeowners often explore the potential of using their home equity to fund their retirement dreams and gain greater financial flexibility. Reverse mortgage companies offer a solution that allows retirees to access this equity while maintaining homeownership.
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In this video, we will provide a reverse mortgage explanation, covering the pros and cons, and explain the differences between reverse mortgages and traditional mortgages. You'll learn why retirees and those aspiring to retire are choosing this option to enhance their quality of life.
Common Myths about Reverse Mortgages
Our goal is to demystify the myths that often surround reverse mortgages. These financial tools are specifically designed to empower seniors to access their home equity without surrendering ownership.
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We are committed to providing education on reverse mortgage companies and offering a clear reverse mortgage explanation, including the reverse mortgage pros and cons, to help you navigate these misconceptions in Tucson, AZ.
The bank will own my home.
This is one of the most prevalent misconceptions. With a reverse mortgage, you continue to maintain ownership and title of the home you love. The loan is repaid when you sell the property, move out, or pass away. As the homeowner, you have the right to live in the property as your primary residence and retain ownership throughout the duration of the loan.
I will own more than my home's value.
Reverse mortgages are designed to protect borrowers, and federal regulations ensure that you can never owe more than the appraised value of your home at the time of repayment. Even if the loan balance exceeds the home's value, you are not personally liable for the difference. The lender absorbs any potential shortfall through mortgage insurance.
I won't qualify because of income or credit requirements.
Unlike traditional mortgages, reverse mortgages have more lenient eligibility criteria. The primary factors considered are your age (62 or older), the value of your home, and your ability to meet basic financial obligations, such as property taxes, insurance, and maintenance. Credit scores and income do not play a significant role in qualifying for a reverse mortgage.
I will lose government benefits like Social Security or Medicare.
Reverse mortgage proceeds are not considered taxable income and do not impact most government benefits, including Social Security and Medicare. However, certain need-based benefits like Medicaid may be affected. It's essential to consult with a financial advisor or benefits specialist to understand the potential implications.
Reverse mortgages are only for desperate or financially struggling individuals.
Reverse mortgages are not exclusively for individuals in financial distress. They can be a strategic financial planning tool for retirees seeking to supplement their income, cover healthcare expenses, pay off debts, or fund home improvements. Reverse mortgages provide financial flexibility and can improve overall financial well-being.
What people said...
Sam
They have a great team.
They helped me with a refinance and communication was clear and frequent from start to finish.
Very pleased with my experience overall.
Lille
Tina, in nutshell, is one person who possesses a stick-to-it (ness) in getting the job done. She is also, very personable and understands everything involving reverse mortgages. Ours was particularly difficult and we both, at one time, we were not sure it would actually come to fruition. However, as noted above, Tina would not give up. She finally succeeded and we are very pleased, among a plethora of other adjectives, concerning her abilities. Lovely personality, too.
Irene
Tina was a pleasure to work with. She explained the whole process so well it became very easy to understand. I would not hesitate to recommend her as your Reverse Mortgage Broker in Tucson!
Reverse Mortgage Information
Reverse to Purchase
A reverse mortgage for home purchase enables individuals aged 55 and older to acquire a new primary residence without the burden of monthly mortgage payments, utilizing the loan proceeds from the reverse mortgage.
How do I qualify?
Deciding whether a reverse mortgage aligns with your needs is a personal choice, and ultimately, the decision rests with you. However, we are here to offer the information and knowledge necessary to empower you to make the necessary decision for your future.
HECM
A Home Equity Conversion Mortgage (HECM) is an FHA-insured loan designed for individuals aged 62 and above. It provides the opportunity to transform the equity in their home into cash, all without the need for monthly mortgage payments.
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