The primary purpose of this website is to educate seniors and the families of senior loved ones about the inner workings of the re-verse mortgage. By ordering our free reverse mortgage guide, you will get a complete description of how a reverse mortgage works. After reading this information you should have a basic foundation to make an educated decision as to whether or not the reverse mortgage is right for you or your family.
Everyone wants to know the pros and cons of the reverse mortgage. Like any financial tool the reverse mortgage has both negative and positive features. With that in mind, not everyone is a perfect fit for the reverse mortgage which is why we’ve developed this guide to outline both the pros and cons of the reverse mortgage so you know if it could be a fit for you. Is the reverse mortgage right for you? Get our free guide to know for sure.
One of the negative aspects of the reverse mortgage is it can be an expensive loan in regards to closing costs. Our guide will cover the various costs and fees of the reverse mortgage so you can understand whether the benefits will outweigh the cost for you.
Additionally, there are five major reverse mortgage mistakes many seniors make, often costing them thousands of dollars in their homes equity. This guide identifies these mistakes and gives you a roadmap to easily sidestep them.
Lastly, you will get a reverse mortgage calculator in your PDF version of our reverse mortgage guide. We will furnish you a link that takes you directly to a calculator so you can have a very good idea how much money you will qualify to receive with your reverse mortgage.
2220 Highway 17 | Little River, SC 29566 | NMLS #399069 | Corp NMLS #13392 | Branch NMLS #1145051
ALABAMA – Consumer Credit License (MC 4683)
CALIFORNIA – Department of Business Oversight (4131181)
COLORADO – Division of Real Estate (LMB100021703)
CONNECTICUT – Department Of Banking (15043)
FLORIDA – Office Of Financial Regulation (MLD394)
GEORGIA – Department of Finance (39404)
IDAHO – Department Of Finance (MBL-7005)
ILLINOIS – Department Of Financial and Professional Regulation (MB.6759436)
IOWA – Division Of Banking (2003-0065)
KENTUCKY – Department of Financial Institutions (MB18333)
LOUISIANA – Office of Financial Institutions (13392)
MARYLAND – Commissioner Of Financial Regulation (12302)
MASSACHUSETTS – Division of Banks (Mortgage Broker License) (MB13392)
MICHIGAN – Financial Institutions Bureau (FL1396)
MINNESOTA – Department of Commerce (20367866)
MISSOURI – Division Of Finance (11-1826-A)
NEW JERSEY – Residential Mortgage Lender License (14243-MBR)
NEW YORK – Banking Department of New York (A007304)
NORTH CAROLINA – Commissioner of Banks (13392)
OHIO – Department of Commerce (MB.803064.000)
OKLAHOMA – Department of Consumer Credit (ML010409)
OREGON – Division of Finance & Corporate Securities (ML-3259)
PENNSYLVANIA – License by Department of Banking (24769)
RHODE ISLAND – Department of Business Regulations (20142951ll)
SOUTH CAROLINA – Department of Consumer Affairs (MB-0510907-0823100)
TENNESSEE – Department of Financial Institutions (0000002157)
TEXAS – Department of Savings & Mortgage Lending (13392)
UTAH – Division of Real Estate Mortgage Lender Company (6283167-MLCO)
VERMONT – Department of Financial Regulation (6581)
VIRGINIA – License By State Corp. Commissions Bureau of Financial Inst. (MC- 2457)
WASHINGTON – Consumer Loan Company License (CL-13392)
American Nationwide Mortgage Company, inc. is licensed under the laws of the state of Texas and by State law is subject to regulatory oversight by the Texas Department of Savings and Mortgage Lending. any Consumer wishing to file a complaint against Reverse Mortgage of Texas should complete, sign, and send a complaint form to the Texas Department of Savings and Mortgage lending, 2601 north Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be downloaded and printed from the Department’s web site located at www.sml.Texas.gov or obtained from the Department upon request by mail at the address above, by telephone at its toll-free consumer hotline at 1-877-276-5550, by FAX at (512) 475-1360. The Department maintains a recovery Fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filled with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s web site at www.SML.TEXAS.GOV.