Welcome to Scott Underwood's website designed so you the homeowner can study and be informed about Reverse Mortgages until you are ready to call me.   Click to read current National News.
 

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Scott Underwood has been "Alabama's Reverse Mortgage Guy", with more than 10 years experience in the Reverse Mortgage field and I have now partnered with  New South llc Reverse  Mortgage to help save you time and money. Dare to compare or ask for a 2nd opinion!! Everything is done in Alabama, so our costs are lower and closings come in under a month. See How. We have Birmingham, Hoover, and Huntsville, Alabama offices, or can usually come to you. I am constantly traveling to Anniston, Gadsden, Tuscaloosa, Montgomery, and Gulf Shores,  Alabama!

I try very hard to make the process easy, more personal, and fast! A Reverse Mortgage loan is designed especially for seniors, age 62 and older to gain access to equity in their home for current use, with no monthly payments for as long as you live in the home. Its a way to eliminate a house payment, and use that money for supplementing income!

I have worked with many Realtors using the Reverse Mortgage for Purchase and also worked with Financial Planners to extend your retirement income.

Call for an in-office or in-home appointment today. Put a face to the name by working local. Answer a few questions, and I will educate you on the pros, cons, benefits, interest rates, advantages, disadvantages, financial planning, and the financial assessment; which is part of the new Reverse Mortgage. You will receive Reverse Mortgage quotes on several of the NEW Safer Reverse Mortgage programs.

Dont discount having a local highly experienced face to talk with and explain what you are signing, and be accountable are telling you. Also, I personally answer the phone when you have a question. We are BBB A+ accredited, and adhere to NRMLA’s code of ethics. We are completely confidential. Full privacy. Not a lead company. Your information is not sold or shared.I cover the entire state of Alabama, click for my Birmingham Reverse Mortgages site!

 
 
 
 
 
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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