Lending you hope!

I used to know Mr. Hughes who happened to be a senior citizen of the US. He had lost his wife much earlier in his life and his children left him for their employment in other places. He also needed money to finance his health treatments. He had chosen the right mortgage lender from among a huge list of mortgage lenders
available in the market. Seniors can greatly be benefited by the concept of reverse mortgage in which the lender pays the borrower rather than the conventional idea of the borrower paying the lender.








The amount of payment depends upon the percentage of equity remaining in the home. At the time Mr. Hughes availed this reverse mortgage, his current mortgage was not totally paid up. He used money from reverse mortgage to pay off his current mortgages. He retained full control of the house, paid taxes and insurance premiums and even made renovations. He remained the owner of his own house. He financed his medical treatments with this money and at present, I have heard that he is also financing his grandchildren’s education. Truly, the Somerset mortgage lenders had been there in times of need.