The significant difference between a reverse mortgage and a forward mortgage is that there are no principal or interest payments required on the home while the borrower occupies the property. In the state of Texas, both spouses must be at least 62 years of age and live in their own homes with considerable equity. Reverse Mortgage Lender | BBB A+ What Is a Reverse Mortgage A reverse mortgage In Texas is a powerful and proven financial tool that allows you to access the equity you’ve accumulated in your home.
And, as with any mortgage, you will be responsible for paying your property taxes, homeowner’s insurance, and maintenance costs. A substantial amount of equity is needed and as a rule of thumb, you will need a minimum of 50% or more equity in your home. We will estimate your amount based on specific factors such as your age, home value, retained equity, and current rates.
The complete process is a no-pressure, ethical and honest relationship.Ĭontact us to get current, up-to-date calculations on how much money you can expect to receive from a reverse mortgage based on the equity you have available in your home. We will answer your questions about reverse mortgages including eligibility requirements, the process of obtaining a reverse mortgage, and what you should be concerned about when reviewing your financial options. We always provide the homeowner with an educational and informative experience complete with good old-fashioned customer service. Our experience in providing Texas homeowners with accurate and factual information sets us apart from the competition. We believe you should fully understand the details of a reverse mortgage and only move forward if you determine it would be a benefit to your specific circumstances. Reverse mortgages are our only business and our primary goal is to provide you with complete information regarding reverse mortgage loans as they apply to your specific situation.Ī reverse mortgage is not appropriate for everyone and does not fit everyone’s circumstances.
We are Bob and Debbie Worley, owners of Lone Star Reverse Mortgage, Inc., a Texas-owned and based business serving Texas Senior Homeowners. We provide reverse mortgage loans for Texas senior homeowners. These experiences have increased her knowledge and ability to work with lenders and complete loans quickly and efficiently.īrenda will work with Sandi Duncan, our loan processor/coordinator/administrative assistant, to continue to give our customers “old-fashioned personal service!”Ī Word From Our Founders Reverse Mortgage in Texas | Bob and Debbie Worley Previously, she worked as a loan officer and had her own company, and for the last few years, she has worked as an in-house loan processor for one of the large lending companies. We have known Brenda for over a decade and she is by far the best loan officer in the industry. We chose, Brenda Bejarano, the best person in the industry who has the same values, attention to detail, and overall ability to grow our company, to be our partner. Debbie and I will still be available but on a limited basis. We have been in the reverse mortgage industry for approximately 15 years and have now decided to add a partner to our business.
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