Attention Seniors

Your life could be significantly easier by not having the burden of a monthly mortgage payment. You've invested a lot of money into your home over the years, now it's time for your home to pay you back. Guarantee yourself additional income for a better lifestyle. We have Senior Advisers who go through extensive training to offer you product knowledge that is second to none.

Receive a free phone or in-home consultation from the professionals at Residential Reverse Mortgage and you could be on your way to financial independence. Feel free to navigate this site to learn more about reverse mortgages, and whether a reverse mortgage is right for you. You have worked hard all of your life. Now sit back and let us go to work for you. We won't let you down.

The Reverse Mortgage Leader™
New York

Residential Reverse is your premier source for all of your New York reverse mortgage needs. Our corporate offices are located right here in New York, we service the whole state, all the way up to Canada down to the tip of Long Island. We also have branches in New Jersey(ReverseJersey.com),
Florida(ReverseFlorida.com) and are licensed in other states. Our experienced professionals are dedicated to helping seniors through the reverse mortgage process. At Residential Reverse, we believe that a reverse mortgage should be one that you enjoy. That is why we provide you with Senior Advisers that are knowledgeable and caring to ensure that you receive the best possible service in your quest for a reverse mortgage.

What is a Reverse Mortgage?

A reverse mortgage is a unique type of loan used by older Americans to convert the equity in their homes into cash. The money from a reverse mortgage can provide seniors with the financial security they need to fully enjoy their retirement years.

The reverse mortgage has earned its name because the payment stream is "reversed." Instead of making monthly payments to a lender, as with a regular first mortgage or home equity loan, a lender makes payments to you. The money from a reverse mortgage can be used for anything from daily living expenses to home repairs and home modifications.

Learn How the New York Reverse Mortgage Process Works

Benefits of Reverse Mortgages

Designed and insured by the US Government
No loan payments required as long as you reside in your home
No income or credit requirements
Allows you to maintain your financial independence
Cash received from the reverse mortgage is TAX FREE
No prepayment penalty
You still own the home and retain title
Proceeds can be used in any manner you wish
You can still sell your home if you wish
Numerous Payout Options:
- lump sum
- line of credit
- monthly payouts
- combination of the three above

Reverse Mortgage Qualifications

Before you can qualify for a U.S. Government-insured reverse mortgage you must be at least 62 years of age and own your own home. There are no income or medical requirements to qualify. You may be eligible for a reverse mortgage even if you still owe money on a first or second mortgage. In fact, many seniors get a reverse mortgage to pay off a first mortgage.

Also, in order to qualify for a U.S. Government-insured reverse mortgage, you must receive reverse mortgage counseling from a counseling agency that is approved and certified by the Federal Housing Administration (FHA). The counseling is a free safeguard for you and your family, to make sure that you completely understand what a Reverse Mortgage is, and what the process of obtaining a Reverse Mortgage is before you apply for one.

Residential Reverse Mortgage
800-987-7740

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Reverse Mortgages Gaining Popularity
FY 2007 FY 2006 FY 2005 FY 2004 FY 2003 FY 2002 FY 2001 FY 2000 FY 1999 FY 1998 FY 1997 FY 1996 FY 1995 FY 1994 FY 1993 FY 1992 FY 1991 FY 1990	107,558 76,351 43,131 37,829 18,097 13,049 7,781 6,640 7,982 7,896 5,208 3,596 4,165 3,365 1,964 1,019 389 157
The federal fiscal year starts October 1 and runs through September 30 of the following year. Statistics Source : HUD