A reverse mortgage is a loan from the U.S. Government for 50% to 75% of the value of a home owned by a homeowner aged 62 and older. Instead of making monthly payments to a lender, as with a regular mortgage, a lender makes payments to the homeowner. The funds from a reverse mortgage are tax-free. The loan doesn't have to be repaid in the homeowner's lifetime, however, when the homeowner dies, the money received plus approximately 4% interest is repaid by their estate. The loan is repaid when the homeowner ceases to occupy the home as a principal residence, due to the homeowner (the last remaining spouse, in cases of couples) passing away, selling the home, or permanently moving out.
Travis Texas Home Equity Conversion Mortgage - Reverse Mortgage
State:
Multi-State
County:
Travis
Control #:
US-01685BG
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Travis Texas Home Equity Conversion Mortgage - Reverse Mortgage?
Drafting papers for the business or individual needs is always a big responsibility. When drawing up a contract, a public service request, or a power of attorney, it's essential to consider all federal and state laws of the specific area. Nevertheless, small counties and even cities also have legislative provisions that you need to consider. All these details make it burdensome and time-consuming to create Travis Home Equity Conversion Mortgage - Reverse Mortgage without expert assistance.
It's easy to avoid wasting money on attorneys drafting your documentation and create a legally valid Travis Home Equity Conversion Mortgage - Reverse Mortgage on your own, using the US Legal Forms online library. It is the biggest online catalog of state-specific legal templates that are professionally cheched, so you can be certain of their validity when picking a sample for your county. Previously subscribed users only need to log in to their accounts to download the required form.
In case you still don't have a subscription, adhere to the step-by-step guideline below to obtain the Travis Home Equity Conversion Mortgage - Reverse Mortgage:
- Look through the page you've opened and check if it has the document you require.
- To do so, use the form description and preview if these options are available.
- To locate the one that meets your needs, use the search tab in the page header.
- Double-check that the sample complies with juridical criteria and click Buy Now.
- Opt for the subscription plan, then log in or register for an account with the US Legal Forms.
- Use your credit card or PayPal account to pay for your subscription.
- Download the chosen file in the preferred format, print it, or fill it out electronically.
The great thing about the US Legal Forms library is that all the documentation you've ever acquired never gets lost - you can get it in your profile within the My Forms tab at any moment. Join the platform and quickly get verified legal forms for any situation with just a few clicks!