Wells Fargo
Frank Powell, Reverse Mortgage Specialist
Manage Your Expenses.
Preserve Your Legacy.
Promote Your Peace Of Mind.
Make the most of your retirement with a reverse mortgage from Wells Fargo Home Mortgage. As the nation’s leading reverse lender, we have the experience and the expertise to help you spend a secure and comfortable retirement in the home you’ve grown to love.
What makes it a "reverse" mortgage?
A reverse mortgage is exactly what its name implies — a loan whose features make it essentially the reverse of a traditional "forward" mortgage. Instead of paying your lender, your lender pays you.
Having spent years paying for your home now let your home PAY you. However you plan to use your equity — whether traveling, paying medical expenses, improving your home, or just adding a bit of cushion to your monthly budget — you'll have a golden opportunity to so.
What happens to my home?
Nothing happens to your home — you remain the owner for as long as you live there, and you will never be forced to move. If you decide to sell or move from your home, the outstanding balance of your reverse mortgage will become due, just as it would with a traditional mortgage.
Who is eligible?
All owners listed on the home's title must be at least 62 years of age and occupy the home as their principal residence.
Speaking with an approved reverse mortgage counselor is another important eligibility requirement. The Department of Housing and Urban Development (HUD) supervises counseling agencies that can work with you in person or, more commonly, over the phone. Your Wells Fargo reverse mortgage consultant can provide you with a list of authorized counselors.
Remember the Four Nevers. With a reverse mortgage, the borrower will:
- Never make monthly payments
- Never relinquish title or ownership of home
- Never owe more than the value of the home
- Never have any restrictions on how the tax free proceeds are used
Every day as the #1 originator of reverse mortgages in the nation, Wells Fargo helps senior homeowners access the equity in their homes to realize financial independence and peace of mind. Please click on the link to Mrs. Hunt's testimony at the National League of Cities for a great example.
We will always work hard to deliver what you need and what we promised! We'll also work hard to make sure that they're one and the same.
For additional resources online, please visit our Wells Fargo Reverse Mortgage website.
Please tell me about your goals and wishes regarding a Reverse Mortgage? What are you trying to accomplish? How would you use the money? Also, I want to address your concerns with a Reverse Mortgage. What other questions can I answer for you?
For more information, please contact:
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Phone: 312-919-4749 |
