A reverse mortgage allows homeowners who are 62 years or older to convert a portion of the equity in their homes into cash.

	No repayment is required as long as the borrower owns and lives in the home.
	There are limited income, asset, and credit requirements.
	The homeowner retains title and ownership of the home.
	Cash advances can be used for any purpose.

What can I use the money for?

 Every day living expenses.
 Pay off debts or mortgage
 Property / Home Insurance
 Medical expenses or in-home care
 Home repairs
  Financial Planning

How can I qualify?

	Any homeowner who is 62 years or older.
	Homeowner must be living in the home.

How much money can I get?

The amount you can get depends on:

	Your age
	The value of your home
	Current Interest Rates
	The HUD loan limit in your area

How is it paid to me?

You can choose how to recieve your money.
It can be taken:

 As a Lump Sum at the closing of the loan
 As a Monthly Cash Advance
 As a Line of Credit
-OR-
 Any combination of the above three options

When do I pay it back?

When the last surviving spouse dies, sells the home or permanently moves away for 12 months in a row.

Are Reverse Mortgages Safe?

	Reverse Mortgages are insured by the U.S. Dept. of HUD and Fannie Mae.
	Payments to borrowers are guaranteed by the U.S. government.
	They are available through HUD Approved lenders.
	Independent HUD counseling is required prior to application.
	Does not affect Social Security or Medicare benefits*.

How do I apply for a Reverse Mortgage?

First you must obtain a counseling certificate from a HUD-Approved Counseling Agency (we can supply you with a phone number of a local counselor).

After receiving your counseling certificate, you can make an application with a First Financial Reverse Mortgage Specialist.

Under normal circumstances, the entire process should take approximately 30 - 45 days.

Who do I contact first?

If you would like more information about Reverse Mortgages, or if you would like an appointment to make an application call: (800) 720-7003.

* SSI and Medicaid benefits may be affected. Get professional advice.