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Massachusetts Reverse Mortgage Companies

Massachusetts is a popular retirement state among seniors. Many seniors who are facing financial situtations are choosing to take out reverse mortgages to help alleviate their situtation. A reverse mortgage, although not cheap, may be a good option for seniors who need money, either in a lumpsum or through monthly payments. Many seniors who owe little to no mortgage on their home are able to qualify for a reverse mortgage. Some of the larger cities seniors choose to retire in Massachusetts are: Boston, Worcester, Springfield, Lowell, Cambridge, Brockton, New Bedford, Fall River, Lynn, Quincy and Needham.

Reverse Mortgage Quick Facts

Seniors looking to qualify for a Massachusetts reverse mortgage will be happy to know income is not used when qualifying for a reverse mortgage. There are a HUD requirements that borrowers must meet to qualify for the home equity conversion loan(HECM, another term for a reverse mortgage). The federal government is considering changing guidelines to use income qualifications as soon as late 2012 or early 2013. Differe nt types of reverse mortgages include the HECM Saver and the HECM Standard. Contact a HECM lender in MA to learn more.

HECM Requirements

Reverse Mortgage Lenders in MA

Accutrust Mortgage, Inc.

Donald Lambert
508-837-6837

Direct Finance Corp.

Alain Valles
781-878-5626

East Boston Savings Bank

John Tirrusa
978-977-2278

Eastern Bank

Chip Coveney
508-923-2836

First Integrity Mortgage, LLC

Bob Irving
508-923-2836

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