Frenquently Asked Questions
Does the reverse mortgage lender take my house, or am I selling my house?
No. Borrowers maintain the title to their house, and they still own and live in their homes. A reverse mortgage doesn’t sell the home to the bank. It’s simply a loan that doesn’t require monthly payments.
What happens if I need to move out of my house for medical reasons?
Reverse mortgage borrowers are allowed to temporarily leave their house for up to 12 consecutive months, for medical reasons. After this period of time, the borrower must return to the home and live in it as their primary residence, or the loan becomes due. The borrower could refinance, pay off the loan, or sell to pay off the mortgage balance (the borrower would still keep the equity)
How would I receive loan payments from my reverse mortgage?
In one of a number of ways. You can receive monthly payments for life (tenure payments) or you can specify how much you want to receive and we can see how long it will last for (term payments). Or you can receive some of the money in a lump sum or leave it in a credit line and receive the rest in monthly payments for life or a specified term. The program is flexible and the choice is yours. The best part is you can change the way you elect to receive the funds. In other words, you can change the way you receive reverse mortgage proceeds if your needs or desires change in the future. You may start with a credit line and “turn on” monthly payments in the future if you desire a secure stream of income.
Real testimonials by real Trinity Mutual customers.
“Now that my loan finally closed and I am a man without mortgage payments, ever, I want to thank you for all that you and your crew went through, making this a reality for me. My case had so many particularities that I thought we’d never be able to make this happen. With the efforts of your staff, I am a man free from mortgage payments.”
– P. Wang, California
I would like to thank you and Jo Ann for the very professional effort you two put forth in my desire to get a reverse mortgage. Your expertise and confidence helped me get funded quickly unlike my failed effort with other another company in the past. Thanks again, Mike, and rest assured that any and all reverse mortgage needs will be sent your way.
– D. Mallon, Florida
“I had not yet decided to do a reverse mortgage until Carol Fullam made the special effort to personally visit me in Pacifica and walk me through the entire loan process and pages of paperwork. If it was not for that visit and the encouragement I would have not chosen Trinity Mutual to do the reverse mortgage.”
– D. F. Hardcastle, California
Is a reverse mortgage right for me?
Are you a homeowner looking for solid financial solutions to help build your retirement plan? You could very well qualify for a reverse mortgage. Most reverse mortgages are “HECM loans”, which are federally insured and approved by HUD as secure financial tools for homeowners in need of additional income during retirement.
Reverse mortgage guidelines were designed by the FHA to provide people a way to plan their retirement by accessing part of the value of their home. For this reason, qualifying for a reverse mortgage is quite easy, as long as you meet a few basic criteria
Trinity Reverse Mortgage is a brokerage firm specializing in finding custom solutions for seniors looking for income assistance. With rising numbers of seniors who are struggling to maintain their lifestyles in retirement, Trinity Reverse Mortgage is dedicated to helping aging homeowners. Transparent information, robust financial expertise and the highest standards of ethical service guide our team of reverse mortgage experts as they help seniors find the custom financial solutions they need to enjoy retirement.
Founded in 2006 by 20 year financial veteran Michael Fullam, Trinity Reverse Mortgage offers a lending network and financial expertise unlike any other broker in the industry. A combination of federal lending program expertise, unparalleled customer service and unwavering ethical standards cause Trinity to stand head and shoulders above other reverse mortgage lenders and brokers. Joined by his wife, Carol, Michael leads his family owned and operated brokerage firm in creating financial solutions for struggling seniors across the country.
As CFO, Carol Fullam’s exhaustive expertise in financial planning and management are key to Trinity’s ability to provide clients with sustainable, custom mortgage solutions. In addition to being a licensed FHA broker, Michael is also a Certified Senior Advisor (CSA), which is a senior lifestyle professional who adheres to a rigid code of ethics in serving the senior community. Together, and with their team of experienced financial professionals, Michael and Carol are excited to grow their reverse mortgage brokerage to meet the needs of more retired seniors each year.
At Trinity, clients are guaranteed to be treated with care, and respect. Reverse mortgage loans are processed in 25-45 days, and clients receive progress reports weekly, so clients feel comfortable every step along the process.