Welcome to the my website! I believe you, your home, & and your Reverse Mortgage are too important to be done over the phone.

So what is a Reverse Mortgage? A loan designed especially for seniors, age 62 and older to gain access to equity in their home for current use. Qualifying is easy with no monthly payments for as long as the home is being used as the primary residence.

5 Ways Reverse Mortgages Can Serve as Retirement Planning Tool

 Scott Underwood is approaching a decade of devoting his career to only working with Reverse Mortgages. As a broker representing many of the largest Reverse Mortgage lenders in the U.S. I usually have the upper hand to shop around for you! I am local, experienced, & honest!!

 This will probably be the only time in your life you take advantage of the Reverse Mortgage program, but for hundreds of Alabama homeowners I have helped in the past, this is what I know!
I’m local which means more than you think, please don’t discount having someone sit face to face, 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.

 
Retirement and money experts Nationally and in Alabama are now agreeing that the Reverse Mortgage is a good financial tool for supplementing your nest egg with the growing line of credit.
 
 Do you want to purchase a new home with a Reverse Mortgage? You and your local Realtor may want to use the fairly new Reverse Mortgage purchase to buy your next home.


I will educate you on all angles; any pros, cons, benefits, rates, advantages, and the financial assessment - 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!  I serve central Alabama areas such as: Birmingham, Hoover, Trussville, Mountain Brook, Chelsea, & 280 corridor. Also at the beach in Mobile and Gulf Shores, Alabama.

Look for our New Castle Mortgage TV ads on the ABC news at 11, 4, 6 weekly. New Castle Mortgage, licenced in all Southern States, The largest "local" Reverse Mortgage Company in the south!

 
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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