Our Services and How We Serve Our Clients
Reverse mortgages assist clients who are “house rich” and “cash poor” in accessing equity in their home. These mortgages allow homeowners to convert their home equity into cash, with no monthly mortgage payment.
Older homeowners commonly get reverse mortgages to supplement income, buy long-term insurance, or finance home improvements. Instead of making monthly payments to a lender, a homeowner will get money from the lender and doesn’t have to pay it back as long as he/she lives in the home. The lender, in exchange, will hold onto some of the home’s equity.
A reverse mortgage lawyer or real estate attorney can help you decide whether a reverse mortgage is necessary in your situation. Some loan lenders may try to take advantage of homeowners or be part of a scam, and an attorney can help you determine if you’re being deceived.
Common issues with reverse mortgages can include the following and more:
- Inability to afford ongoing costs
- Using up home equity
- Risk of foreclosure
If you have come across a reverse mortgaging issue, please contact our office at (413) 534-4214 or submit your contact information by completing our online form. During your free initial consultation, our experienced team of mortgage attorneys will work with you to understand your case and advance quickly and appropriately.
Trying to decide if you have a case? Please feel free to call and ask for any of our attorneys. If after hours, please submit our online contact form.
Labrie, Pouliot, LaRocque & Guiel, P.C. serves Western MA, including Chicopee, Springfield, and Longmeadow, for reverse mortgage cases.