720-541-5545 - Colorado
928-277-4476 - Arizona

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What Is A Reverse Mortgage?

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Common Questions

Welcome to Bingo Reverse Mortgage!

The Bingo Reverse Mortgage Team is your premier reverse mortgage team located in Parker, Colorado, and now servicing Arizona. The experienced team members here are committed to quality customer service and putting the needs of the people it serves first. Bingo Reverse Mortgage will always adhere to the highest degree of integrity in all business dealings.

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Free Assessment

This FREE Calculator has been designed to help take the guess work out of your Reverse Mortgage research. It’s quick and it’s easy. Find out if a Reverse Mortgage is right for you today!


Scenario Examples

Reverse Mortgages can help you achieve any number of goals that you may have. Check out some examples of how people have benefited from or changed their lives with a reverse mortgage from us.

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Common Questions

What is a reverse mortgage? How can I qualify for a reverse mortgage? The Bingo Reverse Mortgage team is here to answer them all and guide and protect you throughout the process.

When it comes to Reverse Mortgages,
education is the key.

The Bingo Reverse Mortgage team's pledge to you is to complete the education process, so you are able to make an informed decision. Bingo Reverse Mortgage always encourages prospective clients to invite family members to be a part of the discussion during the education process.

Reverse Mortgage

Here's a common example:

John is a widower who lives at home alone.

He would like to keep his home, but is having trouble making payments and meeting expenses. His monthly mortgage payment is $611. Even with both Social Security income and pension, he is still short by $187 per month…

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720-541-5545 - Colorado

928-277-4476 - Arizona


Company NMLS ID: 2268418
Mortgage Loan Originator NMLS ID: 2216012

Equal Housing Opportunity

If you qualify and your loan is approved, a HECM loan must pay off your existing mortgage(s). With a HECM, no monthly mortgage payment is required. Borrowers are responsible for paying property taxes and homeowner’s insurance (which may be substantial). We do not establish an escrow account for disbursements of these payments. Borrowers must also occupy home as primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan must be paid off when the last borrower, or eligible nonborrowing surviving spouse, dies, sells the home, permanently moves out, or does not comply with the loan terms. A HECM increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan). These materials are not from HUD or FHA and were not approved by HUD or a government agency.