Reverse mortgages are a powerful tool for many New York homeowners 62 and over who want to access cash and enjoy fuller lives free of financial pressures. You may have recently learned of their availability and have questions best answered by a knowledgeable, experienced real estate lawyer.
At Futterman, Sirotkin & Seinfeld, LLP, you can work closely with a lawyer who will answer all your questions pertaining to a reverse mortgage — sometimes called a lifetime mortgage — and put your interests first. We are here to share our knowledge and help you achieve your goals without applying unwanted pressure.
Substantial Income Without Selling Your Home Or Other Property
Basic requirements and benefits you will need to consider include:
- You must be 62 or over and have paid off your home mortgage.
- You may be able to gain access to cash or a line of credit equaling up to 50 percent of your home's appraised value, with no obligation to pay any money back until your death.
- Your next of kin will ultimately have to pay back the loan within one year after you pass away, using the proceeds of the sale of your home, if necessary, to pay back the amount of money you owe on the loan.
Led in this area by respected attorney Lynn L. Sirotkin, who has practiced New York real estate law since 1983, our firm is an excellent resource for people making important decisions about their homes and other property. We certainly recognize the value that having income now to travel, attend cultural events, spend time with loved ones or pursue other desires may have for you — and we are ready to help if a reverse mortgage is the right solution.
Attorneys Handling Equity Releases
Our Queens attorneys handling reverse mortgages receive many referrals from real estate professionals and other clients. Much of our practice is built on the confidence of loyal clients we have helped in the past, who then tell their family and friends about our personal, diligent approach to giving each client a positive, successful and trouble-free experience.
To discuss what is involved in securing a reverse mortgage, whether you qualify and whether this is the right choice for you, call us now at 866-679-2513 or 718-577-2573. We also welcome email correspondence anytime and will respond as quickly as we can.