Reverse Mortgage Loans In Florida

Many senior citizens are able to pay off the remainder of their mortgage with no issues whatsoever. For others, unfortunately, paying off the mortgage can prove to be challenging, resulting in them having to look through lists of qualified reverse mortgage lenders in Florida. And if you’re one of them, then you know just how burdensome looking for lenders can be.

Many of the reverse mortgage lenders in Florida are more than willing to make an offer for you that appears enticing. But it’s important to keep in mind that while such offers are tempting you should be aware of the fact that not all reverse mortgage lenders in Florida provide the same set of terms. So if you’re tired of being frustrated with trying to find the best loan lender, pick up the phone and call American Bancshares right away. Our organization is filled with industry professionals ready to help you.

Our organization’s 20+ years of gained experience is obtained due to the unequal services provided by its team members as well as their deep devotion to empowering communities. And because of this, we are widely known through the Sunshine State as one of the Florida reverse mortgage service providers. If you’d like to learn more about what you should hire us as well as what a reverse mortgage is, then continue reading below.

Why You Should Choose American Bancshares For a Reverse Mortgage in Florida

American Bancshares is widely recognized and even admired as one of the most established Florida reverse mortgage lenders. But also, American Bancshares is even recognized and appreciated for being a reliable mortgage lender. Because of our 20+ years of experience, we’ve empowered numerous partners and communities. And thanks to our work, our provided services have extended across to various regions of the nation.

American Bancshares’ organizational structure was planned and designed by industry experts who possess a deep understanding of the modern home financing market. Unlike banks, our organization offers mortgage products, meaning that all of our reverse mortgage lenders in Florida are licensed and well-educated in mortgage lending. They aren’t only qualified to offer you expert and professional advice, they’re also deeply committed to assist you in finding the right loan with a rate, terms, and cost-effectiveness that’s most beneficial to your best interests.

The organization of American Bancshares as a whole is deeply passionate about serving the community. And this is often due to the fact that our organization’s core values include:

  • Commitment
  • Integrity
  • Transparency

Many of our employees — even including our senior management — have held a position in just about every chair of the mortgage industry. And thanks to this, we’re able to gain amazing insight from numerous different and unique perspectives. Plus, with many viewpoints paired with deep knowledge about the industry, we’re able to be flexible with industry changes while still being able to effectively and efficiently provide clients with unparalleled service and first-in-class customer service that American Bancshares is widely known for.

We possess leveraged technology to provide you with a simple, straightforward, online stress-free mortgage application experience. Through us, you’ll be granted our reverse mortgage in Florida that will help you acquire the luxury property you seek to purchase.

Reverse Mortgage in Florida

You’ve been living in your home for a long time now and just recently, you’ve found yourself burdened with keeping up with mortgage payments. But if you’re 62 years of age or older and possess considerable home equity, you can borrow against the value of your property in whatever payment type best fits your needs. Unlike your typical mortgage loans, reverse mortgages don’t require that you make any loan payments.

In today’s modern age, you must be cautious when you’re applying for a reverse mortgage in Florida. Florida reverse mortgage lenders you seek may attempt to scam you. This is why you should always receive a reverse mortgage from a reputable MLO in Florida.

When you speak with us, we’ll be able to indicate to you if a reverse mortgage is the best course of action for you

How a Reverse Mortgage Works

Instead of you, the homeowner, making payments to the lender, a reverse mortgage allows the lender to make payments to you. As the homeowner, you’ll get to choose how to receive these payments and you’ll only pay interest on the proceeds received. The interest is rolled into the loan balance so you won’t have to pay anything upfront. You’ll also be able to keep the title to the home. You’ll also have your debt increased as home equity is decreased.

As is the case with a forward mortgage, your home will serve as the collateral for a reverse mortgage. Once you move away or are deceased, the proceeds from the home’s sale go to the lender in order to repay the reverse mortgage’s principal, interest, mortgage insurance, and miscellaneous fees. For any sale proceeds beyond what was borrowed, they will go to you (if you are still alive) or to your estate (if you are deceased). In a few cases, your heirs might choose to pay off the mortgage so they can keep the home.

Reverse mortgage proceeds are not taxable. While they might feel like income to the homeowner, the IRS considers the money to be a loan advance.

Hire American Bancshares For Their Reverse Mortgage in Florida

When you’re ready to purchase your desired property and need assistance from a qualified Florida mortgage lender, pick up the phone and call the experts over at American Bancshares. American Bancshares has been trusted by numerous clients for not only their professionalism and expertise but also for their devotion to helping you become a part of a better community. You can trust that with our deep knowledge and handiwork, you’ll become absolutely satisfied with our services. For any inquiries, you may call us at 1-833-937-2276 or sign up for a free consultation online.

Our passion for growing communities

Servicing the community is driven by our core values of commitment, integrity, and transparency. Many of our team members and most of our senior management have sat in every chair of the mortgage industry, providing us with a full understanding of the business from all aspects. This in-depth knowledge is what allows us to quickly and efficiently adapt to industry change, while constantly providing you with superior processes and first-in-class customer service.

We have leveraged technology to bring you a simple, straightforward, online stress-free mortgage application experience.

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