What is a reverse mortgage and how does it work for Florida homeowners?
A reverse mortgage lets eligible Florida homeowners age 62+ convert part of their home equity into cash without monthly mortgage payments. The loan is repaid when the borrower sells the home, moves out, or passes away. Debbie Cooley Mortgage helps clients understand eligibility, payouts, and long-term implications. Read more →
Do I still own my home if I take out a reverse mortgage in Florida?
Yes. With a reverse mortgage, Florida homeowners remain on the title and continue to own their home. The lender only holds a lien, similar to a traditional mortgage. Borrowers must still maintain the property and pay taxes, insurance, and HOA dues. Read more →
What costs are involved in getting a reverse mortgage in Florida?
Reverse mortgages include costs such as FHA mortgage insurance, appraisal fees, origination fees, title charges, and closing costs. Many fees can be financed into the loan. Debbie Cooley Mortgage explains each cost upfront and helps Florida homeowners understand what they will—and won’t—have to pay out of pocket. Read more →
What are the eligibility requirements for a reverse mortgage in Florida?
To qualify for a reverse mortgage in Florida, homeowners must be 62 or older, live in the home as their primary residence, meet FHA financial criteria, and maintain taxes, insurance, and upkeep. The property must also meet FHA standards. Debbie Cooley Mortgage reviews eligibility with each client. Read more →