Reverse Mortgages

Now that the holiday decorations are put away, all those memories of the holidays past, the memories of the children and grandchildren gathered in you home around the fireplace singing carols, opening gifts, enjoying your home-cooked traditional holiday recipes.  What if that home is no longer yours  you have been forced to downsize and the family doesn't fit any more. Up until the 90s this might have  been the scenario.

Now you can stay in your home that you have taken care of over the years.  Your home is your most valuable asset.  Why not put the equity and value that you have built up over the years to work?

Whether it is paying healthcare cost, paying off debt, replacing a roof, going on a dream vacation, we can show you how the equity in your home can be a resource to help you meet those needs.

Until recently, there were only two main ways to get the cash from your home, sell it or borrow against it and make monthly loan payments.  Reverse Mortgages offer a third way of getting money from your home.  If you are a homeowner age 62 and older, you are eligible to apply for a reverse mortgage loan that converts your home equity into cash disbursements to you.

You might ask what a Reverse Mortgage is  it is exactly that, a mortgage that has been reversed.  There are no payments on the loan as long as you live in the home and you will never owe more than your home is worth.

Do you qualify?  Everyone on the title must be 62 years of age or older and the home must be your primary residence.  There are no income or credit guidelines to satisfy.

Hoping you, many more years in the family home with all those holiday memories.

Jan Merriman, Reverse Mortgage Specialist
1st Metropolitan Mortgage,
Tyler Courtney Branch Manager
Greensburg, PA  724-853-4000