About Reverse Mortgage

What is Reverse Mortgage?

A reverse mortgage is a loan against your home that you do not have to pay back for as long as you live there. With a reverse mortgage, you can turn the value of your home into cash without having to move or to repay the loan each month. The cash you get from a reverse mortgage can be paid to you in several ways:

all at once, in a single lump sum of cash
as a regular monthly cash advance
as a "creditline" account that lets you decide when and how much of your available cash is paid to you
as a combination of these payment methods

No matter how this loan is paid out to you, you typically don't have to pay anything back until you die, sell your home, or permanently move out of your home. To be eligible for most reverse mortgages, you must own your home and be 62 years of age or older.

Since your home is probably your largest single investment, it's good to know more about reverse mortgages and decide if one is right for you. You should also seek advice from a knowledgable real estate lawyer.

At Rubin & Licatesi, P.C, we have built our reputation on trust, integrity and successfully delivering the desired results to our clients. In fact, we have been successfully trying cases for over twenty five years. We pride ourselves on remaining accessible and responsive to each and every clients needs by our hands-on, aggressive approach. Our attorneys possess the highest academic credentials, maintain strong community ties and demonstrate the strictest personal and professional ethics.

The attorneys at Rubin & Licatesi, P.C. have been performing mortgage closings for over 25 years. We eliminate needless delays and formalities. A firm specialty, reverse mortgages, utilizes government programs to benefit senior homeowners. Our lawyers help clients plan for the future, assessing the risks and rewards inherent to a reverse mortgage and other real-estate based financial and legal products.

If you are homeowner interested in knowing how reverse mortgage loans work and are considering applying for one, consult with one of our real estate attorneys at Rubin & Licatesi, P.C. For a free initial consultation with our lawyers, call (516) 227-2662, e-mail us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or fill out the short form describing your concerns.

Disclaimer: ATTORNEY ADVERTISING. The information contained on this website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's area. Any information sent to Rubin & Licatesi, P.C. via Internet, e-mail or through the Rubin & Licatesi, P.C. website is not secure and is done so on a non-confidential basis. Any communication through this site does not constitute or create an attorney-client relationship between Rubin & Licatesi, P.C. and any recipients.

Rubin & Licatesi, P.C. has proudly represented clients throughout New York, including Manhattan, Brooklyn, Queens, the Bronx, Staten Island, Long Island (Nassau and Suffolk Counties), Westchester, and Upstate New York for over 25 years.