What is a Reverse Mortgage?

A Reverse Mortgage is a federally regulated program for homeowners, aged 62 and older. It allows the equity in your home to pay you rather than you paying for the home.

What is a Government Insured HECM program?

HECM stands for Home Equity Conversion Mortgage. It is a federally insured and guaranteed program. The HECM is a safe way for you to access the equity in your home without ever making a mortgage payment.

How is this Program “safe” for Senior Homeowners?

No matter what happens in the economy, how much money you receive, or how long you live in your home you will never be required to make a mortgage payment. In addition, no matter what happens to your lender or your home’s value you have guaranteed access to your money.

Who owns the home if I take a Reverse Mortgage?

You own the home. However, you pledge the home as collateral.

What happens if, in the future, the Loan exceeds the Value of the Home?

Your Reverse Mortgage will continue - thanks to the federal insurance. The line of credit will still be available and monthly disbursements you may have set up, will still be sent to you.

How are Reverse Mortgages different today?

Today's reverse mortgages are highly regulated by State and Federal laws to make them safe and to protect you. Among others, the following regulations apply:

- You retain title of the home.
- No equity share is allowed, meaning the lender does not slowly take over your home.
- Fees and costs are federally regulated.

How does a Reverse Mortgage compare to a Conventional Mortgage?

In a conventional forward mortgage, you make monthly payments to the bank eventually paying off the mortgage over time. With a reverse mortgage you receive cash from your lender, as lump sum upfront, as monthly installments or as a line of credit that grows over time. As long as you live in your home you never have to pay off a single dollar of the loan.

What restrictions apply to the cash I receive from a Reverse Mortgage?

It is your money and you can use it the way you want. It’s non-taxable and does not affect Social Security payments. We do recommend that you talk to a competent financial advisor to determine the effect on any other benefits you may be receiving.

When does a Reverse Mortgage become due and what happens then?

When you no longer live in your home or when you pass away, the reverse mortgage becomes due. You or your heirs have two options:
1) Pay off the reverse mortgage including the accrued interest and retain ownership. 2) Give up ownership of the home and receive the difference between the net sales proceeds and the loan balance. You will not be liable for any shortfall if the sales proceeds do not cover the loan. Your loan may also become due and payable if you do not continue meeting the terms of the loan (For example, paying taxes and insurance owed on the property.)

What are my obligations under a Reverse Mortgage?

With a Reverse Mortgage you retain title to your home. This means that you also have all your obligations as a home owner. You are responsible for home owner taxes and insurances.

Your Reverse Mortgage

Based on the information you have provided, you are eligible to receive an estimated $201,588 in proceeds from the government insured HECM Reverse Mortgage. You May Choose How You Want to Receive the Proceeds You can decide how you want to receive the proceeds from the Reverse Mortgage:

Lump Sum Cash at Closing:
Line of Credit:
Monthly Cash Proceeds for Life:
Or a combination

Here Are the Benefits of a Reverse Mortgage

Convert equity in your home into cash to use for any purpose

Pay your bills, invest in other real estate, repair or upgrade your existing home, or even go on vacation. There are no restrictions on how you use the money.

You get to choose the way in which your funds are disbursed to you

In many situations, the income you receive through a reverse mortgage cannot be taxed.

You do not need to move out of your home

You can continue to enjoy all of its comforts while experiencing in the benefits of more flexible finances.

It can never be frozen, reduced or annulled

So long as you are conforming to the terms of your reverse mortgage

Note that a reverse mortgage is not free money; it is a loan like any other. That means that it must eventually be paid off. If you wish, you can pay it off yourself. Otherwise, you can wait for a maturity event such as the death of the last borrower on the loan. At that point, your heirs may decide whether to pay off the loan or sell the house.

Could You Be Eligible for a Reverse Mortgage in Miami?

A reverse mortgage may be the financial answer you have been looking for. Not everyone qualifies however. You will need to meet these basic requirements to pull equity from your home:

Reverse mortgages are only available to those aged 62 or aboveonly one borrower on the loan must fit the age requirement).
You must own 50% or more equity in your home.
A reverse mortgage is only available for your primary residence.
All your payments as pertain to your home must be current. These include not only your mortgage payments, but also homeowners insurance, property taxes, homeowner’s association fees, and so forth.
Your house must be properly maintained.
Your income, credit score, and tax history will be reviewed when you apply for a reverse mortgage.

Choose Lending Bankers Mortgage as Your Reverse Mortgage Company in Miami Florida

If you are ready to boost your available finances during retirement without leaving your home, you can apply for a reverse mortgage today with Lending Bankers Mortgage. We can help you figure out whether a reverse mortgage is the best fit for your situation. If we determine that you are eligible, we will walk you through the application. You are just a phone call away from a higher standard of living and greater comfort during retirement. Call (786) 220-1100 now to get started.

See what you qualify for in 60 seconds or less!

Lending Bankers Mortgage

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Boris M.

14:45 24 Jan 23

Incredible, great opportunities, with Mr. Juan Grieben, if you want to buy a property, this is the right place

Franki Luis Reyes N.

16:18 19 Jan 23

Son muy eficientes y buenas trabajadoras Ana, Maria y Claudia

Marieva L.

15:11 19 Jan 23

Efficiency and responsibility. Ana, Claudia y María they advise the client very well.

ESTEFANY G.

15:11 19 Jan 23

Un explendido y excelente servicio de Ana, María y Claudia

michell N.

15:05 19 Jan 23

Excelente servicio y atención de parte de claudia, Ana y Maria

MULTY I.

15:01 19 Jan 23

EXTRAORDINARIO TRABAJO , ATENCION Y DEDICACIÓN A CADA EXPEDIENTE Y CASO . MUCHAS FELICITACIONES. ANA, MARIA Y CLAUDIA

yris H.

15:00 19 Jan 23

Excelente atención, de Claudia,Ana y María .

angelica R.

14:11 06 Dec 22

La eficiencia y calidad de servicio fue Excelente, hasta superar nuestras expectativas! El equipo competente y profesional de Ana, Maria y Claudia nos hicieron sentir siempre en confianza y seguros!

Orangel B.

23:46 03 Dec 22

Llegando de Colombia tuve la suerte de contar con el apoyo de Ana, Claudia y Maria. Excelente Feedback e increíble la velocidad con la que me atendieron todos mis requerimientos.Profesionales con... un servicio de 5 estrellas.read more

Daniela L.

20:06 02 Dec 22

Gracias a Ana, Claudia y María son muy profesionales y eficientes, además que el trato es otro nivel, súper personalizado y amable. Las recomiendo cien por ciento!!

alfonsoRon V.

20:46 29 Nov 22

I never thought that I will found in one place the services that I need for my mortgage, and the property that I was looking for. Ana, Claudia and María the three of them, make the perfect team.

María de los Angeles C.

20:59 27 Nov 22

I loved the service offered by Claudia, Ana and Maria, they were recommended to me because I was looking to buy a vacation home to visit family that I have over there, and the result was better than... expected, the best team, keep up the good work Girls!!!read more

Ricardo M.

21:41 24 Nov 22

I love the time and efford that Ana, Maria and Claudia, put to help me find the right property invesment suited for me, they were very quick and avaliable all the time for any issues or concern that... I had about it, if you need any advice or help with a property this is the team you need to chose, excelent job !!!!!read more

Juan Sebastian P.

18:54 10 Nov 22

I would like to take this opportunity to thank Mariya and Gustavo for their help in purchasing my investment properties. They were both very supportive during the process, providing me with advice... and guidance when I needed it. They also went above and beyond to make sure that everything went smoothly, and I am extremely grateful for their efforts. I would highly recommend their services to anyone who is looking to purchase a property, and I sincerely thank you guys for help. You are AWESOME!!!read more

Manuel M.

12:14 09 Nov 22

For me, the most important thing in the provision of a service is the availability to listen and understand what one wants, to quickly propose the different alternatives to what one is looking for... and the clear support in the legal management to obtain the property, all of these qualities, they have: Ana, Claudia and Maria.They are an excellent team!read more

Aurora L.

11:24 02 Nov 22

Thank you, Ana, Claudia and Maria. Excellent care and very professional.They helped me at all times in the process of searching for and obtaining the mortgage for my new home. I recommend them, they... answer all your questions and are pending at all times.read more

Daniel R.

20:47 31 Oct 22

Great service!! Made it happen fast and at a great rate. Will surely work with Claudia again!

Sadhana S.

21:17 17 Oct 22

They are the best team. Working with Claudia, María and Ana has been a blessing experience. They are not only very professional, knowledgeable and efficient but the way the treat you at a personal... level make this a very easy and relax process. I highly recommend them .read more

Andrea D.

13:27 07 Oct 22

I had a great experience working with Danny Perez.He was always on top of everything, he is very professional with his work. Was always there for me. I highly recommend working with him for all... your mortgage needs.read more

J R.

19:55 19 Sep 22

Gustavo is one of the most professional and hardworking mortgage brokers I have ever worked with. Not only he always answers the phone, but he is also extremely knowledgeable and has great... communication skills. The dedication he shows really sets him apart from other mortgage brokers. I'm grateful for the early exposure to updates that he was always giving me. Thank you for making my mortgage process fast and easy. I was a little worried at first, but your team (Katherine and Mariya) put me at ease and guided me through the process step-by-step. I appreciate all your help, and I'm glad that I chose your company to help me with this big purchase. Thank you again for everything!read more

Alberto A.

20:22 18 Sep 22

I worked with Danny Perez during my loan process. Danny was extremely knowledgeable, professional and definitely someone you want to have on your corner! His attention toward me was first in class,... from regular updates, to timely emails, to finding quick solutions when situation arise! I invest in real estate across MIA and I not only found a lender, but an alia I can relay on. Danny Perez is not just a lender, but an extension of your business, whatever your business is (primary home, secondary home, investment property, etc.)Highly recommend Danny for all your lending needs!read more

Dylan G.

02:44 16 Sep 22

As a real estate agent, I had the pleasure of working alongside Danny Perez here at Lending Bankers. Danny is an absolute shark, he first provided my client with multiple options for a loan on a... condo hotel. When my client chose an option, he immediately went to work to secure the loan from the bank for my client. He took on our file, which had many issues along the way, that were not Danny's fault. But, when running into issues, Danny called us immediately to keep us in the loop, then immediately found a solution. His communication with us was always spot on and he didn't mind bringing up bad news, which I respect. He earned our trust by doing this. He ended up getting my client approved for a loan after working night and day to overcome many obstacles. My client and I built an amazing relationship with Danny along the way and we will continue to come back to work only with him when shopping for a loan because we know Danny is a shark!!read more

connie C.

20:42 14 Sep 22

I enjoyed working with Danny Perez. He was courteous, knowledgeable and amazingly responsive. I would recommend him and his company for anyone looking for a good mortgage broker.

Angela R.

19:59 11 Sep 22

Ive worked as a realtor in Miami area for many years. One of the issues we face is trusting the mortgage brokers to prioritize our transaction as much as we are. These ladies (Claudia, Ana & Maria)... always answer the phone, are extremely knowledgable and have great communication skills. The dedication really shows. I never have to reach out to them for updates. They take control of the transaction and its always a smooth ride. They specialize in just about all the tricky clients. Investors, foreigners, self employed, construction, etc.read more

julio B.

16:02 11 Sep 22

For months I procrastinated on finding financing for the purchase of an investment property. Luckily I called this office and Maria Pirela took my call and introduced me to her amazing team.... Communication and attention to detail are their strongest asset. Maria, Claudia and Ana made my transaction run so smoothly, im more motivated to continue investing in real estate.read more

Zoe M.

00:12 10 Sep 22

Ms. Salermo found me the lowest rate ive seen in this market. Maria took care of collecting my documents and Ms. Castano was always available for any questions I had. As an active real estate... investor, these are the people to call.read more

Lorenzo L.

00:04 10 Sep 22

I thought I was never going to be able to qualify for a mortgage as my citizenship is in Brazil. Maria Pirela was very helpful during the document collection phase as I am not very organized with my... documents. Ana and Claudia made sure to give me a variety of rate options. Now I'm enjoying the gorgeous city of Miami. Thank You!!read more

Luis S.

23:23 09 Sep 22

Last week I had an excellent closing. All thanks to Claudia Castano, Maria Pirela and Ana Salermo my transaction closed in 29 days. Other lenders were having issues with my condos approval but they... told me this was their bread and butter. Will contact them for my next financing.read more

Rebeca de C.

21:47 07 Sep 22

Nathaly Velazquez y Gabriel Corrente son los mejores para cualquier necesidad hipotecaria, su profesionalismo y compromiso para resolverte todo, es lo que me hicieron que confiara 100%. Así que los... recomiendo con los ojos cerrados.read more

Giuliana M.

21:31 07 Sep 22

Maria, Claudia and Ana walked me through my first purchase of my condo in Downtown Miami. Wasn’t able to get approved with any other bank but they found a program that allowed me to use my business’s... income instead of my tax returns. Even with my 3 hour time difference in California they still were able to be extremely responsive.read more

Lending Bankers Mortgage LLC is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.

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