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REVERSE MORTGAGE BENEFITS / ELIGIBILITY |
Florida Reverse Mortgage are regulated by the federal government, and allow Florida homeowners at least 62 years of age to enjoy the following benefits:
- Financial security
- Receive funds to improve quality of life
- Proceeds are TAX-FREE
- Funds can be distributed as lump sum, monthly payments for life, line of credit or any combination
- Don't EVER make mortgage payments
- Retain ownership of their Florida homes
- Remain in their Florida homes
- PEACE of MIND
In order to obtain these benefits you need to:
- Be a Florida homeowner and occupy residence as primary
- Attend a reverse mortgage counseling session in Florida with an approved counselor
- Have equity in the Florida home
You DO NOT need the following to qualify:
- Credit requirements
- Income requirements
- Employment
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