The Hawaii Reverse Mortgage

Sometimes, despite the best plans, we come up short.  This can happen for a number of reasons, including events we could never have dreamed would happen.  If you own a home in Hawaii, then you must have worked very hard to make your dreams a reality.  However, even in paradise things can go wrong.

As a growing number of seniors have discovered, in spite of their best efforts, they do not have enough money to live comfortably.  That is where a Hawaii Reverse Mortgage comes in.  Lets take a look at how it may help you and your current financial situation.


A reverse mortgage is a type of mortgage available to people in the United States 62 years of age or older.  With a Hawaii Reverse Mortgage you can turn part of the equity of your home into cash that you can use now.  You only repay the loan when your home is sold, either by you, or your heirs after your death. Any remaining equity belongs to you or your heirs. In the event that the house is worth less than the amount owed, the shortfall is paid by the FHA Mortgage Insurance—not by you or your heirs.


With so many benefits to a reverse mortgage on a Hawaii property, there are some things you should consider.  A Hawaii reverse mortgage is a loan and therefore it has to be paid back—but not until the last remaining survivor passes on or the home is sold…or should you decide to move into a care home for more than 6 months.  While you live in the home, you do NOT need to make payments on the mortgage.  However, you will have to keep the property in good working order according to FHA guidelines, pay all property taxes, and keep up with your homeowners insurance.


As with any financial matter of this magnitude, it is important to carefully consider your options before agreeing to a reverse mortgage.  Discuss it with your family or a trusted advisor. In addition, shop around for the best possible deal.  Finally, take the time to carefully read the small print.  Some time and effort now may save you a great deal of heartache down the road.  As with everything be cautious, be careful and be smart!


For more information or for a Free, No-Obligation quote, contact Daniel Nicolosi at Harbor Financial Group – Your Aloha Mortgage Solution. You can reach him directly at (808) 799-8218 on Oahu; or Toll Free at 888-423-2468 on the Neighbor Islands.

You’ve invested a LIFETIME, now reap the rewards!

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Hawaii Reverse Mortgage Help Line

Hawaii Reverse Mortgage

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