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List TemplateReverse Mortgage Prospects Many lenders are interested in speaking directly with homeowners who are candidates for Reverse Mortgages based on age and current mortgage information. Reverse mortgages have become increasingly popular investment vehicles for senior homeowners looking to draw an income from the equity in their house. A reverse mortgage is a loan that enables older homeowners to convert part of the equity in their homes into tax-free income without having to sell the home, give up title, or take on a new monthly mortgage payment. All borrowers must be 62 and older, must own the property and occupy it as their primary residence and participate in an information counseling session. Further, the property must meet FHA property standards and the owners must maintain the home with necessary repairs, property taxes and insurance. With this list, you can confidently speak on the advantages of accessing their home's equity and increasing their monthly income. List attributes include:
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