Palm Beach County Reverse Mortgage
With over 20% of the population in Palm Beach, FL being over 65, it's no wonder that the area is filled with seniors who opt to take advantage of a reverse mortgage loan to provide them additional cashflow every month. A reverse mortgage provides seniors a way to stay in their home by using the equity in their home to qualify for a reverse mortgage.
A HECM (a common type of reverse mortgage) can either provide additional monthly cashflow, a lump sum payment, or a combination. There are very few qualifications necessary besides having enough equity in the home and the borrower must be at least 62 years old or older to qualify. There's no need to qualify based on income or credit history. Some lenders don't even check credit.
Florida HECM Lenders
A FL reverse mortgage
is also commonly called a home equity conversion mortgage by the government. Some of the top HECM lenders in Florida are First National Bank (Layton, UT), One Reverse Mortgage, Chase and Wells