Where does The Money Store do business?
The Money Store is based in Florham, NJ. The company was founded in 1967 and offers reverse mortages in 40 states (and Washington, DC).
What types of reverse mortgages does The Money Store offer?
The Money Store allows borrowers to apply for the following types of reverse mortgage.
Lump sum. The borrower can access the entire amount immediately. However, you will need to pay interest on the entire amount regardless of whether you spend it.
A line of credit. This is a more flexible option that allows borrowers to only borrow (and pay interest) on the amount they withdraw from their line of credit. In the case of reverse mortgages, the amount of cash available in your line of credit increases as time goes by.
Monthly disbursement. With this option, you get a monthly allowance. This is a good option if you need an additional source of income to cover your living expenses. It can be used in combination with a line of credit for additional flexibility.
What fees does The Money Store charge for a reverse mortgage?
The Money Store may charge a loan origination fee.
Other Services by The Money Store
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- Rhode Island
- South Carolina