Rossi Real Estate Services LLC, Rossi Real Estate Services LLCPhone: (518) 598-7711
Email: [email protected]
Email: [email protected]
When searching for funding in the real estate world, it’s crucial to understand each loan type and its definition. Reverse mortgage is one important term you may encounter when thinking about building equity in your home. But what does reverse mortgage mean?
A reverse mortgage refers to a loan type available to homeowners aged 62 or older, and permits them to turn their home equity into income without monthly mortgage payments. A reverse mortgage loan essentially lets you borrow money, nearly uninhibited, against the equity you’ve already invested in your home.
There are several types of reverse mortgages to choose from, depending on a variety of factors. The most common form of reverse mortgage is the HECM.
An HECM is also sometimes called a Federal Housing Administration (FHA) reverse mortgage, and is only available to those who meet FHA qualification requirements.
To those who qualify, there can be definite advantages to a reverse mortgage. Reverse mortgage loans allow many homeowners the flexibility to supplement their income later in life and benefit from their investment in their homes. They can also be helpful in situations where significant costs, such as healthcare, necessitate a lump sum payment.
However, reverse mortgages don’t make sense for everyone. It’s best to find a trustworthy lender or loan program before considering this type of loan, and discuss your options with a trusted financial advisor.
Rossi Real Estate Services LLC is a boutique real estate brokerage firm that provides close personal attention to buyers and sellers in the Capital Region and surrounding areas. “Typical” is not a word that clients use to describe Rossi Real Estate's approach to home buying and selling. Building upon years of experience, Rossi Real Estate employs creative marketing approaches, combined with a vast network, to quickly sell homes. By creating home floor plans, professional photography, and online marketing videos, Rossi Real Estate is able to depict home layouts and professional marketing to potential buyers before stepping foot in your home; this saves the seller valuable time by attracting only those buyers who have greater interest in the home. Additionally, by employing targeted online marketing, Rossi Real Estate targets buyers searching for homes just like yours.
Joe Rossi, the Principal Broker at Rossi Real Estate, builds upon over 12 years real estate experience in every transaction. Joe zealously advocates for his clients by combining his diverse background in law, finance, complex negotiation, and management, with compassion and exemplary communication skills creates. He explains transaction details and guides his clients through every step of the buying and selling experience. Furthermore, Joe listens to his clients’ wants and needs. In a recent transaction, the buyer profusely thanked Joe, stating he was, “[T]he only one in the transaction that was capable of communicating with the sellers in a way that ensured we were able to close on our dream home”.
Our real estate practice includes leading professionals, all of which are NYS Licensed Real Estate Sales Associates: Joseph R. Rossi, Ryan Hart, & Dustin Cogswell. Their experience includes work at a fortune 100 company, military operations, and technical recruiting.
If you're looking for a real estate broker who goes above and beyond the industry, who genuinely cares about their clients, and who will drive results, contact Rossi Real Estate Services LLC today.
The Stuff our attorneys make us include...
In accordance with Real Property Law §442-H, Rossi Real Estate Services LLC implemented a Standardized Operating Procedure governing client engagement. As such, prior to any engagement, Broker:
1. Requires a buyer to produce identification if the identity of the buyer is not readily known through a personal relationship with the broker or licensed sales person;
2. Requires an exclusive agency agreement (i.e. exclusive broker agreement) prior to engagement with any buyer;
3. Does not require pre-approval for a mortgage loan; however, a pre-qualification letter for a mortgage loan or, for cash buyers, proof of funds is required.
Although Broker may not require certain information, a seller of real estate may require this information prior to showing the property and/or as part of any purchase offer.
