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Kingston, MA, United States, 2007/01/10 - The reverse mortgage market, catering to seniors over the age of 62, is one of the sectors that offers expanded career opportunities for dedicated professionals interested in helping seniors age in place.
James Ennis was recently named as a Reverse Mortgage/Conventional Mortgage Consultant at Harbor Mortgage Solutions, based out of their Braintree, MA office, located at 100 Grandview Avenue.
Harbor Mortgage Solutions was founded in 1978 and is dedicated to providing customized service by obtaining the best possible solution for each individual client every time.
At Harbor Mortgage Solutions Ennis educates seniors on the specifics of reverse mortgage programs and also assists borrowers with conventional mortgage options. Ennis previously served as a loan officer at Town and Country Credit after spending a number of years in the printing industry.
Ennis received his B.A. in Legal Studies from Quinnipiac College in Hamden, CT.
A native of Amherst, MA, Ennis currently resides in Weymouth, MA.
The Reverse of Traditional Thinking
A reverse mortgage, essentially the opposite of a traditional or “forward” mortgage, can enable seniors to tap into accumulated equity without having to face ongoing payments. Unlike traditional mortgages where borrowers make monthly payments, in a reverse mortgage the cash flow is reversed, and the lender makes payments to the borrower, enabling borrowers to use the tax free cash they receive in any way that they wish.
There are no minimum income, asset, or credit qualifications to meet and no effect on Social Security or Medicare benefits. The property must be the primary residence of the borrower and properly insured and maintained, with real estate taxes kept current. As long as the borrower continues to live in the property the loan can never be called. Repayment is required if the home is sold, or when the last borrower permanently leaves the property, or passes away. At that time, the heirs can sell, or refinance, the property to pay off the loan.
Once the province of a few small banks and private lenders, the great majority of reverse mortgages today are provided through government-sponsored programs, namely the HUD/FHA Home Equity Conversion Mortgage (HECM) and the Fannie Mae Home Keeper (HK) programs.
Harbor Mortgage Speakers Bureau
Area Councils on Aging, Visiting Nurse Associations, home healthcare providers, civic organizations, and church groups are invited to contact Harbor Mortgage to schedule an educational presentation to learn about alternatives available to senior homeowners, including ways to unlock the equity in their homes.
Customized Harbor Mortgage Solutions
Specializing in conventional residential and reverse mortgages, Harbor Mortgage Solutions, Inc. is located at 100 Grandview Road, Suite 105 in Braintree, MA. George A. Downey, who is now joined by his son Christopher Downey, founded family owned and operated Harbor Mortgage Solutions in 1978.
Assisted by a staff of experienced mortgage professionals, Harbor Mortgage Solutions is dedicated to providing customized service, obtaining the best possible solution for each individual client every time. An equal opportunity lender licensed in Massachusetts (license #MC0041) and Rhode Island (license #20041821LB), Harbor Mortgage Solutions is a member of the Massachusetts Mortgage Association, the National Association of Mortgage Brokers, and the National Reverse Mortgage Lenders Association, strictly subscribing to their rigid code of ethics. Harbor Mortgage Solutions is also an Educational Subscriber of the Massachusetts Chapter of the National Association of Elder Law Attorneys.
For additional information on services offered by Harbor Mortgage Solutions please call 781-843-5553 or 800-599-8700.