KIRKLAND, Wash. (SEND2PRESS NEWSWIRE) -- Today LTC Financial Partners, LLC (LTCFP) announces the formation of a new affiliate, Reverse Mortgage Direct, LLC (RMD), which will provide reverse mortgages to Americans 62 and up.
"We're delighted to add this new service to our corporate offerings," says Cameron Truesdell, CEO of LTCFP, one of America's most experienced long term care insurance agencies. "Now we can help more people breathe easy, knowing they've got the means to pay for care when needed."
Josh Stephens, RMD's President, points out that the proceeds of a reverse mortgage may be used for anything, but that "as an affiliate of LTCFP, RMD will emphasize two particularly vital uses. The first is to help the thousands of senior home owners that contact LTCFP every year that don't qualify for long term care insurance. Now they can create a fund of money using a reverse mortgage to help with the costs of long term care, and this helps them stay in their homes longer too."
"The second vital use is to help the millions of senior home owners on a fixed income, that have lost a significant amount in the stock market," Stephens said. "With a reverse mortgage, they can recover some of their spending power and financial security."
The reverse mortgages RMD will be offering are government insured loans called FHA Home Equity Conversion Mortgages (HECM). Stephens says, "The HECM loan is both FHA insured and non-recourse. That means that if the sales proceeds are insufficient to pay the amount owed, FHA will pay the lender the shortfall and the homeowner will owe nothing more to the lender or FHA."
Information about long term care insurance from LTCFP is available at www.ltcfp.com .
Rights granted for reproduction by any legitimate news organization. However, if news is cloned/scraped verbatim, then original attribution must be maintained with link back to this page as “original syndication source.” Resale of this content for commercial purposes is prohibited without a license. Reproduction on any site selling a competitive service is also prohibited. Information is believed accurate, as provided by news source or authorized agency, however is not guaranteed, and you assume all risk for use of any information found herein/hereupon. This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.
5932 times (1 today, 4 this week, 14 this month, 60 this year)