Cover story: Reverse mortgages satisfy many goals
By Michele Lerner, The Washington Times
"Today's borrowers who use reverse mortgages represent every level of the economic spectrum.
Chris Warner, a reverse-mortgage consultant with MetLife Bank in Bethesda, Md., says he has helped homeowners in countless situations, from a couple borrowing against their multimillion-dollar Georgetown home in order to make a substantial donation to a university to an elderly low-income woman who needed money to repair her home and her health after a home invasion. That woman not only was able to fix her home. but also had enough home equity to receive substantial monthly cash payments through a reverse mortgage even after she had paid for repairs."
Those that are interested in reverse mortgages should read this interview with Chris Warner at MetLife. Chris, jcwarner@MetLife.com, is a reverse mortgage specialist in the Maryland suburbs of Washington, DC. MetLife is one of the major sources of reverse mortgages and we recommend Chris for our age 62+ clients.
Many seniors do not know that at reverse mortgage may be used to finance the purchase of a more suitable primary residence. This product can be lifeline to a better quality of life for those with lots of home equity but a limited income. There are no mortgage payments for life and there are no income or credit requirements.
Life is good for seniors in Maryland!
Life is good in Maryland!
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