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Reverse Mortgages

Three things you should know:

1. They can be right for you
2. They can be wrong for you.
3. You can trust us to know the difference

Home is where the heart is. It can also be the key to reaching your retirement goals. If you love the house you’re in and want to stay there through retirement, consider a reverse mortgage from Meredith Village Savings Bank. We know it can be a big decision- and we’ll listen (in person) to all the questions you may have. Here’s a start:

Watch to Learn More
Click on the links below to watch short (2-5 minutes) clips outlining various features and questions around reverse mortgages. If you are unable to view them, let us know and we’ll mail you a CD with all 5 clips.

• Introduction to reverse mortgages
• What is a reverse mortgage?
• How can a reverse mortgage protect you and enrich your life?
• Common questions and concerns about reverse mortgages
• What is the process to learn more about and apply for a reverse mortgage?

What is a Reverse Mortgage?
A reverse mortgage is a flexible loan that allows you to tap into the equity in your home to cover the expenses you have today. Unlike a traditional mortgage, a reverse mortgage pays you!

What are the advantages?

• You retain the title to your property and stay in the home you love. You worked hard to make your house a home. A reverse mortgage enables you to stay in your home while drawing on its equity.
• Use the money for anything. There are no restrictions on how you use the money from a reverse mortgage. Improve your cash flow, pay for healthcare expenses, cover property taxes, make home improvements, or finance your retirement goals.
• You choose how you receive your money. Get it in a lump sum, as monthly installments, or as a line of credit
• No monthly payments required. As long as you continue to live in your house, you’ll have no monthly payments; you simply pay off the loan when you are no longer living in the home or when you sell it.
• The proceeds are tax-free!*

Is a reverse mortgage right for you?
Your home is your greatest asset – and you’ll want to take great care as you consider a reverse mortgage. We will certainly be careful too, because we are committed to you – and to this community. Contact Denise Hubbard, our reverse mortgage specialist – to discuss if a reverse mortgage might be right for you:

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