This information is not intended to be a substitute for legal, tax or financial advice. Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice. These materials are not from HUD or FHA and were not approved by HUD or a government agency.
* There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default.. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.
Scott Underwood/New South Reverse Mortgage Alabama
4000 Eagle Point Corporate Drive
Birmingham, AL 35242
Phone: 1(251) 333-4200
I have been working with homeowners all in the state with our meeting offices in Huntsville, Montgomery, and Birmingham / Hoover, Alabama. I will help you look at pros and cons. The financial planning aspect of it, and the Reverse Mortgage to purchase- this allows you to only use part of the proceeds from the sale of you sold house to use with the Reverse Mortgage purchase to own the home without mortgage payments and maybe move up into a nicer class of house. Ask your realtor for information about this.
Scott’s Alabama NMLS # 206339 TNN dba New South Reverse Mortgage NMLS # 1018333
**The owner(s) retain title to the property that is the subject of the reverse mortgage until the person sells or transfers the property and is therefore responsible for paying property taxes, insurance, maintenance and related taxes. Failing to pay these amounts or failure to maintain the condition of your property may cause the reverse mortgage loan to become due immediately.
Gulf Shores, Orange Beach, Mobile, Foley, Atmore, Dothan, Alabama
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