A reverse mortgage is a safe, secure and easy way for seniors to turn their home's equity into an additional source of income to meet any financial need. Unlike traditional home equity loans, this product does not require repayment of any kind until the home is sold, or the borrower permanently leaves their primary residence.

Who Qualifies?

Qualification is simple; all property owners must be at least 62 years old and occupy the property as a primary residence.

How Can The Funds Be Used?

Reverse mortgage borrowers may use the proceeds for whatever they wish.

• Pay off a mortgage
• Pay off credit cards
• Pay off home equity loans
• Make home repairs or remodel
• Travel
• Pay property taxes
• Stop foreclosure
• Buy a new car

Borrower Responsibilities

• Attend a counseling session
• Maintain the property
• Continue to pay taxes and insurance

For more information about reverse mortgages, please visit our Norcom reverse mortgage website.