At Darien senior center: Learn more about reverse mortgages

Written by The Darien Times
Friday, January 06, 2012 07:00 AM

Frank Magnate with MetLife Home Loans will be at the senior center to discuss the pros and cons of reverse mortgages on Monday, Jan. 9, at 12:30.

A reverse mortgage is a loan which a homeowner can borrow money against the value of his or her home. No repayment of the mortgage is required until the borrower dies or the home is sold.

The loan amount is not to exceed the value of the home. Magnate will cover the rules of reverse mortgages, who they may be good for, and what to look out for.

Add this page to your favorite Social Bookmarking websites