180 Oser Avenue, Suite 800
Hauppauge, New York 11788
Phone: (631) 435-4710
Fax: (631) 435-4751
Employer Assisted Housing and Smart Growth Developments.
$25M "HELP" Program
More Information
Courthouse Commons
Central Islip
Price: $240K-$260K
$7,500 price reduction, until Sept. 15, 2008!
$25,000 in grant funds available.
Floorplans
South Country Estates 3
Bellport
Price: $115K-$134K
Cedar Valley Co-ops
Village of Hempstead
Price: $75K-$120K
A reverse mortgage is a loan against a person's home that does not have to be paid back as long as the person lives there. The load is paid back with interest when the person passes away, sells or permanently moves from their home.
Before applying for a reverse mortgage you must meet with a counselor from an independent government-approved housing counseling agency, such as the Long Island Housing Partnership
For reverse mortgages, the best loan option is almost always a federally insured Home Equity Conversion Mortgage (HECM), as it is usually the least expensive private sector mortgage.