In today’s tough economy, Americans age 62 and older are realizing that a reverse mortgage can be an important part of their financial plan. With limited or dwindling retirement savings, concerns about outliving their assets, or just the desire to live more comfortably, increasingly savvy seniors are realizing the benefits reverse mortgages can offer. However, until recently, there were really only a few well-known, long-standing companies offering the product. In 2007, however, the MetLife family entered the reverse mortgage industry through MetLife Bank.
“When I tell people that I’m a MetLife Bank reserve mortgage consultant, they often ask - are you with the MetLife?” says Burl Greaves. “I’m always happy to tell them that MetLife Bank is part of the MetLife family. I feel that it puts folks at ease, knowing that a company with such a long history of strength and stability is offering reverse mortgages.”
A reverse mortgage is a loan that allows homeowners age 62 or older to tap into the equity that’s been built up in their home. The homeowner can then use the cash they receive in a variety of ways, such as paying for monthly living expenses, home improvements and health care. The borrower continues to own and live in the home without making monthly payments, and the loan doesn’t become due until the last surviving borrower passes away, sells the house, or leaves it for more than 12 months.
“Because of the way the reverse mortgage product is designed, it may be a good solution for many people, and may help them maintain financial independence while remaining in their homes,” notes Greaves. “One of the best things about my job is that I get to see firsthand how a reverse mortgage can make such a positive impact on people’s lives - and I’m very proud to be doing so as a part of the MetLife family. When people hear the MetLife name, they feel even more comfortable about who they’re doing business with.”
For those considering a reverse mortgage, getting all the facts is important for making an informed decision. MetLife Bank offers a free educational video and information kit that explains all the benefits, eligibility requirements and cost implications. To request this free, no-obligation material, contact Burl D. Greaves, Reverse Mortgage Consultant, MetLife Bank, N.A. Burl is pleased to serve Lubbock and the South Plains. Call him at 806-441-4787.
(Mortgage financing provided by MetLife Bank, N.A., Equal Housing Lender. All loans subject to property approval. Certain restrictions may apply.)
What You Need To Know When It Comes Reverse Mortgage Loans
When it comes to reverse mortgage loans you do not want to be one of the countless numbers of people who are tricked by their reverse mortgage loans. You need to do your homework and read the fine print. Know what you are getting before you make the decision that a reverse mortgage is right for you. By being informed of the process and details that a reverse mortgage entails you are less likely to be tricked by a lie; because you will know the truth. The more you know about reverse mortgage loans, the better off you are when it actually comes time to getting your own reverse mortgage.
How To Find A Trusted Reverse Mortgage Broker
The better the reverse mortgage broker you choose the better the deal on your reverse mortgage. The sad reality of reverse mortgages if that certain people who have been conned by a shady reverse mortgage broker find that their first reverse mortgage paycheck is not as much as what they anticipated. A corrupt reverse mortgage broker takes more than their fair share of the proceeds in a deal that they were not fully upfront about to the consumer.
Finding Honest Reverse Mortgage Companies
With millions of Americans now at or approaching retirement age, the problems of failed pensions, inadequate social security, and escalating health insurance costs are threatening to cause a massive increase in the number of seniors who will be struggling to stay financially afloat during their golden years. Many of these people have turned to reverse mortgages as ways to supplement their retirement incomes, and if you are thinking of joining their ranks, you need to be sure your reverse mortgage is handled by a reputable lender.
Bargaining For The Best Reverse Mortgage Rates
Reverse mortgage rates are not different form traditional mortgage rates, and when you are applying for a reverse mortgage you should make every effort to find the lowest reverse mortgage rates you possibly can. While comparison shopping takes time, you can help your own cause by taking advantage of the reverse mortgage calculators available on one of the many reversed mortgage Internet websites.
Seniors Have a New Resource to Research Assisted Living Housing Options
Assisted Living Facilities launches with a nationwide directory of over 40,000 state-licensed senior living communities. A senior care blog and Q&A area also offer helpful advice and information for elders and their families considering assisted living.
