Reverse Mortgage

I am over 62 years of age, own my home, and need help paying my bills.

If you are over 62 years of age, own a home and are having difficulty paying your bills a reverse mortgage may be right for you.

A reverse mortgage is a special type of mortgage loan that enables a homeowner to convert the equity in his or her home into cash. You may choose a lump sum payment or receive regular monthly payments to supplement your income.

Elderly are one of the vulnerable groups typically targeted by predatory lenders. As a result, to receive a reverse mortgage you must complete a reverse mortgage counseling session. For more information about reverse mortgages or to set-up a reverse mortgage counseling session contact:

Consumer Credit Counseling Services of NH & VT
105 Loudon Road
P.O. Box 818
Concord, NH 03302
Tel: (603) 224-6593
Toll free: (800) 327-6778
Web: www.cccsnh-vt.org

For more information about reverse mortgages you may also want to check out these websites:

US Dept. of Housing and Urban Development (HUD) - About Reverse Mortgages for Seniors

AARP - Reverse Mortgage Information

National Center for Home Equity Conversion - Frequently Asked Questions about Reverse Mortgages

 

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