Understanding Reverse Mortgages in New Jersey and New York
In recent years, reverse mortgages have become a widely used method of providing income streams for the elderly. For some people, a reverse mortgage is a sound financial move. For others, a reverse mortgage is a very bad decision. What should you do?
It is unlikely that you will receive objective information from those promoting reverse mortgages — they have a product to sell. If you are considering a reverse mortgage for yourself or a loved one, you need objective information and sound advice. The Manna Helmy Law Group is an elder law firm with much experience in reverse mortgage and other estate planning tools. Our New Jersey reverse mortgage attorneys can evaluate your situation, help you understand your financial options and recommend the course of action that is right for you. We serve clients in Bergen County and surrounding communities in New Jersey and New York.
Home Equity Conversion Using a Reverse Mortgage
A reverse mortgage is a way to obtain a steady income stream by gradually using the equity in a home. Reverse mortgages have high set-up costs, which make them unattractive if the homeowner will not live in the house for a long time.
The Manna Helmy Law Group will carefully analyze your financial and life situation. We will weigh the pros and cons of a reverse mortgage in light of your particular circumstances. We will examine other financing options such as a second mortgage or home equity line of credit and compare the alternatives.
Our firm can provide you with information you need to make an informed decision about a reverse mortgage.
Protecting Your Interests
If you decide to go ahead, our firm can review other issues such as title to the home. If they are not in order, we can take action to set them right.
Deciding to purchase a reverse mortgage is a big step. With the help of The Manna Helmy Law Group, you can be assured that your decision is the right one.
Contact Our Home Equity Conversion Attorneys
Protect yourself by getting sound legal advice before making a major life decision regarding home equity conversion. Contact our New Jersey reverse mortgage lawyers online or call 201-345-3018 to schedule a free initial consultation to discuss your situation. We represent clients throughout New Jersey and New York.