Reverse Mortgage for My Parents

4/20/2010 1:59:24 AM #

Yes Danny, reverse mortgages are quite safe.
When looking into a reverse mortgage be sure to deal with an approved reverse mortgage lender by HUD and a member of the National Reverse Mortgage Lenders Association.
Also look into the HECM program.
A HECM Reverse Mortgage is government protected.
The home goes to the heirs, not the bank, when they die.
They'll be able to maintain home ownership and continue to live in the home.
They can pay off their current mortgage and have no monthly mortgage payments*
They can chose how they receive their money.
The money is tax-free and can be used to supplement their monthly income, pay medical expenses or eliminate debt**
There is no income or credit qualification in most cases.
For over 150 years, Dollar Bank has been helping customers choose the right product for their needs while never losing sight of what is in the best interests of its customers. Advising a customer on a Reverse Mortgage is no different.

At Dollar Bank, we keep the servicing of our Reverse Mortgages, so if you have any questions later, our representatives will be there to help you.

Dollar Bank has also been named an approved Reverse Mortgage Lender by the U.S. Department of Housing and Urban Development.

For more information on a Dollar Bank Reverse Mortgage, call 1-800-344-5626 in Pennsylvania.

* Payments for taxes and insurance must still be made.

Randy Davis / AVP Residential Lending Dollar Bank

4/20/2010 7:46:44 AM #

Yes, Danny,
Everything Randy states about reverse mortgages is true.
In addition, the amount of money available to your parents is based on the
youngest borrowers' age, current interest rates and the value of the home.
For years the downside of reverse mortgages was the closing costs. But
things have changed a lot in the reverse mortgage world recently and now
some of them feature zero origination fees and zero servicing fees.

I am a MetLife Reverse Mortgage Consultant and offer personalized service.
I can provide a referral list of clients whom I have helped with their
reverse mortgages. I can arrange to meet with you and your parents at a
time and location of your choice.

MetLife is a proud member of the National Reverse Mortgage Lenders
Association and an approved lender of the US Department of Housing and
Urban Development.  In fact, the only type of reverse mortgage offered by
MetLife are government insured. MetLife retains the servicing of their
loans. You can call 1-800-269-6797 or reach me directly at 724-503-4500. I
would be happy to send you an introductory packet of information.  You can
visit my website at  www.mlbreversemortgage.com/sdunn2.

Sallie Dunn, Reverse Mortgage Consultant
MetLife Home Loans, a division of MetLife Bank, NA

Sallie Dunn, Reverse Mortgage Specialist