Reverse Mortgages Shopping for a mortgage loan? We'll be glad to discuss your mortgage needs! Give us a call at 214-300-8756. Ready to begin? Apply Here. Reverse mortgages (sometimes called "home equity conversion loans") enable older homeowners to tap into built-up home equity without the necessity of selling their home. Deciding how you would prefer to be paid: by a monthly payment amount, a line of credit, or a lump sum, you can take out a loan amount determined by your equity. The loan doesn't have to be paid back until the borrower sells the home, moves away, or dies. After you sell your property or is no longer used as your main residence, you (or your estate) have to pay back the lender for the money you received from your reverse mortgage plus interest among other fees. Who is Eligible? Most reverse mortgages are appropriate for borrowers who are at least sixty-two years old, have a low or zero balance owed against the home and maintain the property as your principal living place. Many homeowners who live on a limited income and have a need for additional funds find reverse mortgages helpful for their circumstance. Social Security and Medicare benefits can't be affected; and the funds are nontaxable. Reverse Mortgages may have adjustable or fixed rates. Your residence is never at risk of being taken away by the lending institution or sold against your will if you outlive the loan term - even if the current property value creeps under the balance of the loan. Contact us at 214-300-8756 if you want to explore the advantages of reverse mortgages. F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) can walk you through the pitfalls of getting a reverse mortgage. Give us a call at 214-300-8756.