Common Questions

Commonly asked questions by borrowers and financial professionals

For the purposes of these questions, since 95% or more of all reverse mortgages are HUD regulated, FHA insured Home Equity Conversion Mortgages (HECM), the below references to reverse are assumed HECM loans.  Proprietary Jumbo Reverse Mortgages may or may not have similar provisions

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Licensing

Ridge Reverse
Powered by Amerifund Home Loans Inc.
NMLS #347051

Richard W. McWhorter
NMLS  #1618644

Amerifund Corporate
2655 First St. Suite #220
Simi Valley, CA 9306

Contact Us

Local Address
200 E Tillman Ave
Lake Wales, FL 33853

Number:
Office: (863) 456-7810
Mobile: (404) 313-9785

Hours:
MON-FRI 9AM - 5PM EST

Ridge Reverse powered by Amerifund NMLS #347051. Equal Opportunity Mortgage Broker. Credit on approval. Terms subject to change without notice. Not a commitment to lend. Contents not provided by, or approved by FHA, HUD or any other government agency. All potential tax benefits should be verified with a professional licensed tax advisor. NMLS Consumer Access

At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds; charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees; the loan balance grows over time and interest is charged on the outstanding balance; the borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home; interest on a reverse mortgage is not tax deductible until the borrower makes partial or full re-payment.

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