. All borrowers must be 62 years old
. No repayment penalty is made until the home is sold or the owner permanenly moves out of the house. As long as you pay your real estate taxes, home owners ' insurance and keep the property maintained.
. You will never owe more than the current market value of your home.
. Interest is paid at the time the loan is repaid.
. When the loan is due, your heirs have choices-they can repay the loan and keep house, or sell the home and repay the loan.
. Social Security benefits and medicare are generally not affected by a reverse mortgages-consult appropriate government agencies.
. You own the home-the lender does not take control of the title.
. Closing costs and fees incurred can be financed as part of the loan.
. THE CASH YOU RECIEVE IS TAX FREE.
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28 Years of Proudly Serving
the State of New Jersey
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Hours of Operation:
8:30 a.m.–5:30 p.m.
Also Open Weekends
#NMLS 203510 # 237545
National Association of Independent Housing Professionals-Director
E & G Financial Services Inc. NMLS #203510 1200 Route 46 W, Suite 201
Parsippany, NJ 07054-2154
Fax: (866) 421-8133