Welcome to the Reverse Mortgage Alabama website! Local, Experienced, & Honest!! I am Alabama's Reverse Mortgage Professional with the biggest Reverse Mortgage lenders in the U.S.

I am Scott Underwood and have been in the Reverse Mortgage industry since early 2007 and absolutely love my job. This will probably be the only time in your life you do this, but for almost eight years this is all that I have done every day. I’m local which means more than you think, please don’t discount having someone sit face to face and explain what you are signing and be accountable for what they are telling you. I back this up by coming to your closing as well, just to be there for you, but usually there aren’t any questions or surprises. You will already know the basics; any pros, cons, benefits, rates, advantages, and the financial planning aspect of this product by then. Best of both: You can work with a local person, have great personal service, but also have the backing of knowing you're with one of America's largest Reverse Mortgage Lenders! We have special programs in place to work with Banks, In home Care providers, & Realtors (Reverse Purchase). I service Central to North Alabama. Birmingham, Montgomery, Cullman, & Huntsville!  

Facts - Reverse Mortgages (H.E.C.M) are a very effective financial planning tool when used properly.
The bank never owns your home. - All lenders have the same Reverse Mortgage products. - Fees and knowledge are the difference. - One mistake by your loan officer can cost you thousands. - Reverse Mortgages are insured by FHA. Qualification is an FHA based ratio based on home value borrower age.

 
Find the solution that fits your needs.

Reverse Mortgages

A reverse mortgage is a home loan that lets homeowners convert a portion of the equity in their home into cash. The equity built up over years of mortgage payments can be paid to you. Unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence.

 

Am I Eligible?

To be eligible for a HUD reverse mortgage, HUD's Federal Housing Administration (FHA) requires that the borrower is a homeowner, 62 years of age or older; own your home outright, or have a low mortgage balance that can be paid off at the closing with proceeds from the reverse loan; and must live in the home.

 

How Much Do I Get?

The amount you can borrow depends on your age, the current interest rate, and the appraised value of your home or FHA's mortgage limits for your area, whichever is less. Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow.

 
 

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