Merl F. Littlewood
Reverse Mortgage Specialist
If you are a senior citizen and own your own home, I have a safe and easy way to help you receive income from the equity you’ve built up in your home.
To find out how a Reverse Mortgage can benefit you, give me a call today!
Use the equity in your home to:
- Supplement your income
- Eliminate your house payment
- Pay for home repairs and maintenance
- Pay off credit cards, household and medical bills
- Help with healthcare/prescriptions
- Set up a Line of Credit for unexpected expenses (not available in all states)
- Buy a new car or pay for a vacation
- Help grandchild with college expenses
- Whatever you wish!
- Both spouses must be 62 or older
- Own your home and occupy the home as your principal residence (may be eligible even if there is a first or second mortgage)
- NO PAYMENTS for as long as you occupy the home
- Maintain your independence by not relying on family and friends for your financial needs
- You can remain in your home for as long as you like
- Money may be used for any purpose
- You retain title to the home
- No income or credit qualifications
- The money is tax-free
- You may sell the home at any time
- Does not affect Social Security or Medicare
- FHA insured / Fannie Mae Guaranteed
- Government designed programs
- Make the Decision to Call Today for a Free Loan
Evaluation!
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Stay in your home with peace of mind.
SMART...
- Use the equity in your home for guaranteed monthly income, lump sum payment, or credit line.
EASY...
- We can meet in the comfort of your home and guide you through the process.
SAFE...
- Government designed, regulated and insured programs.
What is a Reverse Mortgage?
Think of it as an “advance” on the equity in your home. A reverse mortgage loan puts to use the equity in your home and you can receive cash, a tax-free monthly income, and/or line of credit. There are no income or credit qualifications and there are no monthly payments to make.
How much money can I receive?
The amount of money you receive is determined by your home value, the age of the youngest homeowner and the current interest rate. I will assist you in evaluating your options and calculating the maximum amount of money that will be available to you. Call for a FREE LOAN EVALUATION.
How do I receive the money?
You choose a payment schedule that fits your individual circumstances.
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As a monthly supplement – you can increase your monthly income
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All at once – as a lump sum - this provides you cash for a large expense.
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As a line of credit – this lets you create a savings account to draw on as you need additional cash. (Not available in all states)
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Or a combination of above.
What costs are involved?
Just like a standard mortgage loan, reverse mortgage costs include appraisal, credit report, title insurance, legal fees, loan origination, and recording fees. All of these normal loan costs can be included in your loan balance. I will provide a good-faith estimate of the costs involved for you.
Will I retain ownership of my home?
Yes. You retain title and the government designed Home Equity Conversion Program allows the borrower to remain in the home until the last remaining borrower vacates or sells the home. The borrower or the borrower’s heirs receive 100% of the remaining equity after loan payoff.
Is the reverse mortgage process complicated?
No. I will give you a complete explanation in the comfort of your home. You can consult with family members and take as long as you like to decide. AND free credit counseling is part of the process.
Who should I look to for advice?
I encourage all of the borrower’s advisors, both personal and professional, to meet with me to review the needs and options available to the borrower.
In
which states can Merl Littlewood originate a loan?
The states I am currently licensed to originate
loans in are:
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Massachusetts:
Massachusetts Mortgage Lender & Broker, License Number
MC5054.
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New
Hampshire: New Hampshire Mortgage Broker, License Number
13538-MBR.
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Vermont:
We are pending licensure in Vermont.
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U.S.
Department of Housing and Urban Development: Title
II Loan Correspondent, FHA Lender ID Number
25254-0000-5.
How do I get started?
The best way to start is to call me, Merl Littlewood
at (603) 358-1002. I will be happy to meet with you at your convenience to discuss your needs.
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