You've put a lot into your home. Let it help obtain the financial assistance you need for:
Unexpected expenses
Medications
Treatment
Family caregiver expenses
In home care
Long term healthcare insurance
Home improvements
Travel or practically anything else you want(1)
Mickey Cissell
Reverse Mortgage Specialist
Throughout our lives, our financial situations change. You plan and prepare for the later years, but what happens when the unexpected occurs? Malvern National Bank has an answer to that question if you own your own home and meet a few qualifications. The answer is a Reverse Mortgage. It's a program guaranteed by the Federal Goverment.(2)
A Reverse Mortgage allows homeowners 62 years of age and older to borrow against the equity in their homes. While this sounds similar to a Home Equity Loan, a Reverse Mortgage differs in that no payments are required to satisfy the loan as long as the homeowner continues to make the home his or her primary residence.
For more information about a Malvern National Bank Reverse Mortgage, call your local branch of MNB and ask for Mickey Cissell. Or, you can email Mickey: mcissell@mnbbank.com
We've prepared a list of Frequently Asked Questions regarding Reverse Mortgages. Just click on the link below to view them.
(1) The only restriction on the use of the funds is it can not be used to pay for "estate planners" who charge excessive fees to help a person get a reverse mortgage or for information that can be received for free or for a minimal charge.
(2) Reverse Mortgages are guaranteed by the FHA, a part of the U.S. Department of Housing and Urban Development (HUD).
