Connecticut Reverse Mortgage Options and How They Work

Posted on September 21, 2017 · Posted in Connecticut Reverse Mortgage

Hello My name is David Tortora and I am a loan officer here at Northeast Financial in Middletown, Connecticut (we cover the whole state).  Today I would like to talk about reverse mortgages and how they can be a beneficial tool to give you a better quality of life.


There are basic guidelines to qualify for a reverse mortgage:


  1. 62 years of age or older

  2. Primary Residence

  3. 1-4 family


Now here is a list of the benefits of a reverse mortgage:


  1. Easy process and I will work with you every step of the way

  2. Property can be in foreclosure

  3. All you need is a 580 credit score or higher

  4. Can live in home as long as you want with no repayment of any money

  5. If property depreciates and you owe more then house is worth you do not need to pay the balance.


There are three ways of receiving money from a reverse mortgage.


  1. Lump sum

  2. Monthly payments

  3. Line of credit


Please feel free to call me or email me with any questions you may have and I will be happy to answer them.


IMG_0126David Tortora NMLS 88166
Company NMLS 117273
210 South Main Street
Middletown CT 06457