Talk of The Villages Florida - View Single Post - Mortgage Company and Home Inspection Questions
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Old 12-17-2020, 02:42 PM
John_W John_W is offline
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You might do better with someone else, but Citizens is owned by the developer, so it's like the money is going from one hand to the other. It makes things flow smoothly, so if you think there is problems such as income verification, or whatever, Citizens might be good. Otherwise, look at credit unions next.

Also Citizens also offers reverse mortgages, I know because I have one. About once every month or so during normal times they'll have a reverse mortgage orientation at Palmer Country Club. The poster who mentions buying more than you can afford, is for real, it's a reverse mortgage purchase. They'll will talk about that as well. When you get a reverse mortgage under the new laws of 2017, you can only get about 40% of your homes appraised value. All they do is add that on at the beginning and you can a home worth more, because you're getting that extra money and might not have to make any mortgage payments. You will both need to be age 62 and live in the home fulltime.