Your Reverse Mortgage Options in Connecticut

Posted on March 19, 2015 · Posted in Connecticut Reverse Mortgage

Hello, I am Michael with Northeast Financial and am sure if you clicked this link you are trying to find out information for yourself, family member, friend, or client.  Doing a reverse mortgage does not have to be a daunting task – it is actually much simpler than people realize.  Here is everything you need to know:

There are basic guidelines to qualify for a reverse mortgage:

  1. 62 years of age or older
  2. The House has to be your Primary Residence
  3. And it can be a 1-4 family home or condo.

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

  1. No credit is required
  2. Property can be in foreclosure
  3. No minimum credit score is needed
  4. You Can live in home as long as you want with no repayment of any money
  5. If your 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 for the rest of your life
  3. Line of credit – where you can draw on it as you wise


To get started all we need to do is take a quick application (we can do this in person where we come out to you or over the phone).  So please call me today and lets discuss your options.



Michael Meyer
Senior Vice President of Northeast Financial
210 S. Main St Middletown, CT 06457