Reverse Mortgage Lender Promotes Education When It Comes to Financial Products - 21 News Now, More Local News for Youngstown, Ohio -

Reverse Mortgage Lender Promotes Education When It Comes to Financial Products

Posted: Updated:

Lender launches campaign to ensure home owners understand reverse mortgage products.

San Diego, CA, United States of America – March 12, 2014 /MarketersMedia/ —

Senior citizens often find they are dealing with a multitude of issues that are new to this stage of life. Some find they aren’t adjusting well to retirement and more free time, while others begin to experience health issues. When a senior finds the money they have saved for retirement just isn’t enough to meet daily living expenses, many turn to reverse mortgage lenders for assistance.

“Before one makes use of a financial product of this type, he or she needs to ensure they have the information on reverse mortgages needed to make the right decision for their personal situation,” the team at Security 1 Lending declares.

When one chooses to take out a reverse mortgage, the bank pays the home owner a percentage of the equity he or she has built up in the home, and the funds needn’t be repaid until the borrower permanently leaves the home or sells it. Any senior over the age of 62 may obtain a reverse mortgage, but it is best for those who own their home outright or those who owe very little.

“As the money can be used for any reason, seniors often find this is a good way to finance unexpected expenses that arise during retirement. Even those who carefully plan for their senior years may find they don’t have enough money to meet their needs. With a reverse mortgage, individuals don’t have to rely on other parties for part or all of their support,” the Security 1 Lending team explains.

Lenders don’t take the home, which is a common misconception concerning reverse mortgage products. The homeowner retains the home and its title when this financial product is selected, and heirs aren’t responsible for repaying the debt as the lender only gets paid when the property is sold. According to Security 1 Lending staff members, any balance which remains after the property is sold is satisfied using the mortgage insurance premiums paid to HUD through the reverse mortgage.

Before one choose to obtain a reverse mortgage, they need to speak to someone who specializes in this type of financial product to ensure other choices wouldn’t benefit the borrower more. “Contact Security 1 Lending to learn more about reverse mortgages and other financial products available to seniors in need of extra income. Security 1 Lending strives to provide home owners with solutions that improve their quality of life as that is always the main concern,” the Security 1 Lending team proclaims.

About Security 1 Lending:
Security 1 Lending provides homeowners with informative and educational reverse mortgage information to ensure the individual’s experience with the process remains a pleasant one. The company never pressures consumers as staff members strive to develop an honest and ethical relationship with each customer, building this relationship on a foundation of trust. The goal remains to provide every homeowner with financial independence while demonstrating integrity, loyalty, compassion and a solid work ethic at all times.

For more information about us, please visit http://www.s1l.com

Contact Info:
Name: Security 1 Lending
Email: pr@security1dvd.com
Phone: 800.659.7971
Organization: Security 1 Lending

Source: http://marketersmedia.com/reverse-mortgage-lender-promotes-education-when-it-comes-to-financial-products/35807

ReleaseID: 35807

  • More From wfmj.comMore>>

  • Lightning kills boy swimming in Pennsylvania creek

    Lightning kills boy swimming in Pennsylvania creek

    Monday, September 1 2014 3:09 PM EDT2014-09-01 19:09:34 GMT
    Authorities say a lightning strike has killed a boy who was swimming in a central Pennsylvania creek.More >>
    Authorities say a lightning strike has killed a boy who was swimming in a central Pennsylvania creek.More >>
  • Ohio police: Wedding guest tries to steal gifts

    Ohio police: Wedding guest tries to steal gifts

    DAYTON, Ohio (AP) - Police in Dayton say a wedding guest tried to make off with checks and cash for the newlyweds. Officers were called to the wedding reception late Saturday night after workers noticed that a safe had been emptied out. Police say about $6,800 was found in unopened wedding cards inside a tuxedo garment bag belonging to one of the guests. A police report says surveillance video showed a man entering the office and later walking out with the garment bag. The man told police he...More >>
    DAYTON, Ohio (AP) - Police in Dayton say a wedding guest tried to make off with checks and cash for the newlyweds. Officers were called to the wedding reception late Saturday night after workers noticed that a safe had been emptied out. Police say about $6,800 was found in unopened wedding cards inside a tuxedo garment bag belonging to one of the guests. A police report says surveillance video showed a man entering the office and later walking out with the garment bag. The man told police he...More >>
  • Flying club remembers 4 killed in Ohio plane crash

    Flying club remembers 4 killed in Ohio plane crash

    CLEVELAND (AP) - Members of a flying club held a candlelight vigil to remember four Ohio college students killed a week ago when a small plane crashed just after taking off near Cleveland. Friends and family members were among the 80 people who gathered Sunday night near the crash site in Willoughby Hills. Federal officials say the pilot of the plane reported he was having trouble climbing just after takeoff and was trying to return to the airport. All four people aboard the plane were stude...More >>
    CLEVELAND (AP) - Members of a flying club held a candlelight vigil to remember four Ohio college students killed a week ago when a small plane crashed just after taking off near Cleveland. Friends and family members were among the 80 people who gathered Sunday night near the crash site in Willoughby Hills. Federal officials say the pilot of the plane reported he was having trouble climbing just after takeoff and was trying to return to the airport. All four people aboard the plane were stude...More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms