The Truth on "REVERSE" Mortgages and YOU!

Our Co-Host Dan Mudd will answer all questions or call him  1-630-235-7700 or email  DanMudd1@AOL.com

1. What is a reverse mortgage?

A reverse mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. The equity that built up over years of home mortgage payments can be paid to you. But unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence or fail to meet the obligations of the mortgage. You can also use a HECM to purchase a primary residence if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing.  Call Dan Mudd @ 1-630-235-7700. Tonight we broadcast from "THE TILTED KILT" on Higgins Road in Schaumburg, Illinois 2 blocks west of Meacham road on the north side. Have an IDEA on a show that can help our SOldiers Family" Contact Steve@SFTVR.com

All guests, co-hosts and speakers are expressing their own opinions and conjecture and do not represent The Soldiers' Family Radio & TV, affiliats or their contents.