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Reverse Mortgage Lender

Larry Speir

Reverse Mortgage Specialist

NMLS #2078566

(912) 414-0981
Jet Direct Mortgage, NMLS#: 3542

Thanks for visiting my website today. If we have not already met, please feel free to give me a call or send me an email today. I look forward to meeting you.

Let me ask two quick questions:

  1. Is your home helping or hurting your retirement?
  2. IF there were a proven tool that would increase your cash each month, reduce your retirement risks, preserve assets and add new dollars to your savings, would you want to know?

WHAT I DO

I help boomers and senior homeowners release the funds tied up in the brick and mortgage of their homes into liquid funds that can be used to enhance their the retirement years. Equity in your home works just like your retirement plan. You have spent years paying into each of them, so when you reach retirement years, you can tap into each to help your retirement years. The difference is that money from your home equity comes out TAX FREE!

WHO I SERVE

We work with anyone age 62 and over. Everyone's situation is different so we meet with each new prospect to discover their unique situation and tailor a plan that fits them if a HECM (reverse mortgage 2.0) is right for them.

WHY IT WORKS

Today, many refer to the Home Equity Conversion Mortgage or HECM as a reverse mortgage - a name that stuck, since payments are ‘reversed’ with the borrower not being required to make payments but instead the lender pays the homeowner.³ However, not all reverse mortgages are created equal. HECMs are federally-insured and have unique eligibility requirements and guarantees. Private reverse mortgages¹ offer access to one’s home equity with no required monthly payments as well, albeit with different terms and conditions.

The good news is that while only the HECM is insured by the Federal Housing Administration (FHA) and supervised by the Department of Housing and Urban Development (HUD), private reverse mortgages are closely monitored by regulators. It is recommended that homeowners thoroughly research their options on which loan may best suit their needs. Costs, features, eligibility rules, insurance, and interest rates should be considered.

Whether it’s a HECM or a reverse mortgage, both reverse the typical mortgage and provide eligible homeowners a flexible means to tap into their home’s value.

HOW IT WORKS

A reverse mortgage is a unique loan that allows homeowner(s) 62 years of age and older to draw on the value of their home, which is paid to the homeowner(s) in a variety of payout options or used as a line of credit. One of the unique features of a reverse mortgage loan is that it does not require repayment until the homeowner(s) no longer reside in the residence, the last surviving borrower passes away, or does not comply with the loan obligations. An example of reverse mortgages or HECM guidelines / obligations are paying property taxes and insurance and maintaining the property to FHA guidelines (if the reverse mortgage is FHA's HECM loan).

You can call me at 912-414-0981 or email me at lmspeir@gmail.com.

Larry