Reverse Mortgage Loan Attorney

A reverse mortgage, technically called a HECM (Home Equity Conversion Mortgage), enables homeowners over age 62 to convert a portion of their home equity into income tax–free funds to pay for in-home care, medical devices and equipment, and home accessibility modifications necessary to age in place during declining health — while potentially insulating their other assets from significant depletion. By using the strategies explained in the linked NAELA Journal article written by fellow elder law attorney and reverse mortgage loan officer Stephen R. Pepe, clients whose choice of long-term care setting is their home will discover that a HECM can sometimes outperform long-term care insurance polices in terms of the amount of money available for care, the versatility of those funds, startup costs, and ongoing out-of-pocket costs.

Click here for the full article.

If you’re interested in a HECM reverse mortgage for yourself, please call us at 703-691-1888.  Evan Farr is a licensed reverse mortgage loan officer with Quontic Bank, primarily in order to help our clients who desire to use their home equity to pay for in-home care so they are not forced to move to a senior facility if that is not their wishes.

Evan Farr
Loan Officer
NMLS ID: 1740496
425 Broadhollow Road Suite 302 Melville, NY  11747

*Prequalification provides you with an estimate of how much you can borrow to purchase a home, based on our preliminary review of credit information. This does not represent an offer to enter into a loan agreement. Loans subject to credit approval. Not all loan products or terms are available in all states. Normal credit qualifications & other terms and conditions apply. Products, rates & terms subject to change without notice.

Equal Housing Lender | Quontic Bank™ | NMLS ID: 303906