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Reverse Mortgages

A reverse mortgage provides home-owners access to the equity in their home as a source of income while maintaining ownership of – and residency in – the home.

The National Council on Aging has produced a helpful guide: Using your home to stay at home, available at http://www.ncoa.org/news-ncoa-publications/publications/ncoa_reverse_mortgage_booklet_073109.pdf

You can also call NCOA for guidance at 1-855-899-3778


AFFORDABLE HOUSING ALLIANCE

  • Non-profit providing consultation regarding reverse mortgages
  • 59 Broad St, Eatontown, NJ 07724
  • 732-389-2958
  • www.housingall.org

NJ HOUSING & MORTGAGE FINANCE AGENCY


HOME EQUITY CONVERSION MORTGAGE (HECM)


MORTGAGELOAN.COM

  • Article on precautions that seniors should take when it comes to owning a home, downsizing, paying a mortgage, taking out a reverse mortgage, and selling property
  • Web site: http://www.mortgageloan.com/seniors/

You can also explore a reverse mortgage with most bank and mortgage companies.


REAL ESTATE

The National Association of Realtors has created a credential for SENIOR REAL ESTATE SPECIALIST.  These agents have demonstrated that they have the necessary knowledge to counsel clients 50+ through major financial and lifestyle transitions in relocating, refinancing and selling their home.  To find someone in your area, contact the association at:

  • http://www.seniorsrealestate.com/
  • 1-800-500-4564

The Princeton Senior Resource Center does not endorse any of the resources listed on these pages. We collect and provide information from many sources as a service to those seeking services in the Princeton area. No listed provider pays to be in our directory.



© Princeton Senior Resource Center
45 Stockton Street, Princeton, NJ 08540
Suzanne Patterson Building 609-924-7108
Spruce Circle 609-252-2362
Contact:
Hours:
Suzanne Patterson Building 9AM-5:00PM
Spruce Circle 10:00AM-4:00PM,
Every Weekday Unless Otherwise Noted

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