Reverse Mortgage Specialist Tim Ryan

Reverse Mortgage Specialist

Tim Ryan

tryan@iReverse.com

NMLS: #772455 Local Phone: 480-620-5321

“The Reverse Mortgage was the best thing we ever did. The tax free cash we get each month has greatly improved our quality of life. Retirement is fun again! Thank you Tim Ryan and iReverse Home Loans”

I’m here to help you! 

Let me be your local Reverse Mortgage Expert.

Call me today at 480-620-5321 or try our instant reverse mortgage calculator to the right

 

Philosophy I’m driven by: honesty, professionalism, integrity, character and compassion

What is a Reverse Mortgage?

Reverse Mortgage loans are a way for older homeowners to convert a portion of their home’s equity into tax-free cash, without having to sell or move. Insured by the FHA, Reverse Mortgages allow homeowners who are 62 or older to borrow against the equity of their homes.

Here’s how it works:

  • Qualifying homeowners can choose to receive tax-free payments from Reverse Mortgage lenders either on a monthly basis, in a lump sum, as a line of credit or any combination of the above.
  • No monthly payments are required while a borrower lives in the home.
  • Social Security and Medicare benefits are not affected.
  • Title to the home remains in the home owners names.* THE BANK DOES NOT OWN THE HOME. Homeowners stay in their home as long as they are able or want to.*
  • Reverse Mortgages are paid back only when the last borrower leaves the home, typically through the sale of the home by the heirs.*
  • When the loan is paid in full, all remaining equity associated with the property will be distributed to your heirs.
  • Once the Reverse Mortgage closes, proceeds do not change due to negative economic reasons such as market downturn.

Keep in mind:

Reverse mortgage borrowers continue to own their homes.* Because there are no monthly loan payments due, the amount owed grows over time. That means that the amount and the remaining equity in the home could decrease depending on the real estate market in Arizona.

Borrowers must continue to pay homeowner’s insurance and property taxes during the loan period. It is also the borrower’s responsibility to keep up with repairs.

*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.

This will probably be the only time in your life you take advantage of the Reverse Mortgage program, but for hundreds homeowners I have helped in the past, this is what I know!

I’m local which is very important.  I can sit down with you face to face, explain the process and the documents you are signing and be accountable for what I’m telling you. I will be there to attend your closing as well, just so there are no questions and/or surprises.

Summary
Photo ofTim Ryan
Name
Tim Ryan
Website
Job Title
Reverse Mortgage Specialist
Company
iReverse Home Loans, LLC

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