Security 1 Lending Offers HECM Reverse Mortgages in Ohio

Security 1 Lending is offering HECM reverse mortgages for seniors hoping to use part of their equity in their current properties to buy a new home.

North Royalton, OH (prHWY.com) November 15, 2012 - North Royalton, Ohio (September 27, 2012) - Security 1 Lending is offering HECM reverse mortgages for seniors hoping to use part of their equity in their current properties to buy a new home. Reverse mortgages grant senior Americans greater financial security for medical expenses, for home improvements, and even for buying new property.

Simply put, a reverse mortgage is a specialized type of home loan that allows homeowners to convert part of their home equity into liquid assets. As these loans are becoming more and more popular among property owners, the Federal Housing Administration developed the Home Equity Conversion Mortgage (HECM).

The HECM is a safe alternative resource that offers older Americans an opportunity to enjoy a greater degree of financial security and freedom. Unlike a traditional home equity mortgage or additional mortgage, borrowers under the HECM loan facility do not have to pay the loan in full so long as they abide by the loan agreement.

People who are considering applying for an HECM loan are required to meet with experienced mortgage advisors from an independent, government-sanctioned housing counseling organization. Some creditors that provide reverse mortgages also require borrowers to undergo counseling sessions.

California-based reverse mortgage specialist Security 1 Lending helps seniors access the benefits of reverse mortgages for their individual needs. The company will assist each client throughout the process, from first inquiries all the way to the closing of the transaction.

For more information on HECM loans and other concerns regarding reverse mortgages, visit ReverseMortgageRetirementStrategies.com today.

About Security 1 Lending

Security 1 Lending is one of today's leading companies in the reverse mortgage sector. They currently rank 6th in the industry for number of loans and 5th in volume of dollar transactions. With the exit of Metlife, Security 1 Lending is poised to take over as the forerunner in the reverse mortgage industry.

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Tag Words: mortgage advisors, reverse mortgages

Categories: Finance

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