contact us

our location

Where We Are Located

Our headquarters are in South Jordan, Utah. However, We serve our clients all over the United States. Visit our Areas Served page to learn more.

call or Text Us

(385) 503-2224

email us

info @ reversemortgageresourcecenter.com

Address

11240 River Heights Dr, Suite 100
South Jordan, Utah 84095

The Reverse Mortgage Resource Center is Brought to you by Dave Pettitt from SecurityNational Mortgage, NMLS#27461. Company NMLS #3116. South Jordan Branch Office Number 801-508-6300, NMLS #1148585.

popular Questions

Our Team is here to Serve.
Let us know if you have any questions.

Our normal office hours are 9:00 am to 5:00 pm. We are typically closed on State and Federal Holidays.

NO. Although some seniors may have a greater need than others for the monthly proceeds or lump sum funds reverse mortgages offer, most prefer to be free of monthly mortgage payments. Without monthly mortgage payments, many homeowners can maintain their quality of life and build their savings to help with future expenses. A growing number of people without immediate needs are taking out these loans to have a financial cushion for future expenses.

As a general rule, NO, there are no restrictions. The cash proceeds from the reverse mortgage can be used for any legal purpose, and borrowers should be cautious of lenders attempting to cross-sell other products. Many seniors have used reverse mortgages to pay off debt, help their kids, make ends meet, or have a financial reserve.

As a general rule, YES. The home needs sufficient equity to pay off the current mortgage and receive additional proceeds. If your house isn’t paid off, the proceeds you receive from the reverse mortgage must first be used to repay any existing mortgage. This is the most common reason most homeowners 62 years and older take out a reverse mortgage.

NO. Reverse mortgage lenders put no time limit on how long the borrower(s) can stay in their homes. Since homeowners still own the property, lenders cannot evict them as long as the borrower continues to live in and maintain the home and property taxes and homeowners insurance are paid.

NOT THE GOOD ONES. Unfortunately, some Seniors have been victims of reverse mortgage lending schemes by unscrupulous and unsavory lenders. Thankfully, those are rare and getting rarer. But since there are always bad guys in the weeds, we strongly encourage you to conduct as much research as possible by consulting government agencies, speaking with financial advisors, and referencing the National Reverse Mortgage Lender’s Association (NRMLA). Don’t just take the lender’s word for it.

have a Question?

Have a question or want to speak with a local Reverse Mortgage Advisor? Drop us a line, we’re happy to help!

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