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Reverse Mortgages

Reverse mortgages are loans for older homeowners that allow them to convert home equity into cash.

If you are 62 or older, a reverse mortgage lets you hold the title and keep living in your home, while collecting payments generated from a loan secured by the home’s equity. Opt for a lump sum payment, or take monthly cash advances during the life of the loan. Because the money is paid as a loan, it’s not considered taxable income and won’t affect Social Security or Medicare benefits.

For more information on reverse mortgages click the link below.


Jim Steel, Regional Manager/Loan Officer NMLS #376338
Marketplace Home Mortgage, LLC.
13700 Reimer Drive N Ste 100, Maple Grove, MN  55311
Cell:  (612) 578-6402
Direct:  (763) 432-4655
Office:  (763) 432-4640
Fax:  (763) 432-4649
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