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Tom Russo
Licensed mortgage loan originator
NMLS # 352457
941-479-9838
Email: TomRussoMortgage@gmail.com
Disclosure: Encompass Mortgage Services, Inc. NLMS 1614463.
Loan approval is not guaranteed and is subject to lender review of information. Encompass Mortgage is an equal opportunity mortgage broker. Encompass Mortgage is approved to originate VA and FHA loans,and has the ability to broker such loans to VA/FHA approved lenders. Encompass Mortgage is not acting on behalf or at the direction of HUD/FHA or the VA. Reverse Mortgage Specific Disclosure: The loan is repaid when the last borrower leaves the home or refinances the home or passes away. When the home is sold or refinanced the proceeds pay back the loan, accrued interest and mortgage insurance All of the remaining equity goes to the borrower or their heirs. As with any home-secured debt, the homeowner remains responsible for property taxes, homeowners insurance, HOA dues and property maintenance. An under-age spouse is not a borrower and is not on title. Their right to remain in the property for life is dependent on meeting all conditions of the HECM program including continued payment of property taxes and homeowners insurance and maintenance of the property. Available tenure payments or lines of credit extended to the borrower will cease upon their demise and will not be available to the non-borrowing spouse. Tom Russo – Licensed Mortgage Loan originator NMLS ID 352457