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News » Counseling available on reverse mortgages
Jan. 14, 2010
A local financial service organization is helping to educate people about reverse mortgages.
Mary Novak of FISC says it's an option for people who own a home, but need some extra money.
Novak says a reverse mortgage lets a homeowner borrow against the equity that they've built up in their house. She says FISC is offering a counseling service to let people know what is involved in that kind of mortgage, and to help them avoid predatory lenders.
The counseling is available for people who are 62 years or older and have enough equity in their home. |
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