Free Reverse Mortgage PDF's
Pennsylvania Reverse Mortgage Directory
MetLife Reverse Mortgages - Pennsylvania
Michael Ravotta
MetLife Reverse Mortgage Consultant
Mike is a veteran reverse mortgage consultant and is happy to share his knowledge and expertise with his clients at MetLife Bank. “The reverse mortgage is a great product that can make such a huge difference in so many lives,” Mike says. “I’m honored to be part of that process.” Mike believes that older adults have taught him a lot, especially the value of being patient. “ They’ve taught me how to slow down and cover all of the bases. I think this has made me better at what I do in my work, and in my life,” he says. A native of Kittanning, PA, Mike is an accomplished musician and a member of the American Federation of Musicians. In his spare time, he enjoys performing with the local musicians’ union at many events in his community.
Michael Ravotta
Reverse Mortgage Consultant
Metlife Bank, N.A.
Phone 724-466-2887 | Fax 518-953-1578 | Toll Free 800-607-0366
Email | Website
About Reverse mortgages in Pennsylvania
The reverse mortgage, often referred to as the Senior Reverse Mortgage is a unique type of loan product that directly benefits Senior Citizens during their retirement years. The Pennsylvania Reverse Mortgage is growing in popularity, as is the Reverse Mortgage in general. Proof of this growing popularity can be found from the below numbers (as brought to you by NRMLA the National Reverse Mortgage Lenders Association.)
- 2005 - 48,493 homeowners took out a reverse mortgage
- 2006 - 86,639 homeowners took out a reverse mortgage
- 2007 - 132,252 homeowners took out a reverse mortgage
There are a variety of Pennsylvania reverse mortgages available. The most popular reverse mortgage in Pennsylvania is the HECM. HECM stands for Home Equity Conversion Mortgage, and is usually what homeowners decide on when they consider getting a Reverse Mortgage. Pennsylvania reverse mortgages are fairly easy to obtain.
PA Reverse Mortgage Requirements
- >>Borrowers must be Age 62 years or older
- >>Own their home and have enough equity in to qualify
- >>Occupy the home as primary residence
- >>Receive counseling by an approved HUD/FHA counselor
- >>The home must be in reasonably good repair
Revere Mortgage Resources
We do not make loans. If there is not a licensed representative in your area feel free to inquire with HUD, or the mortgage regulatory body in your state for more information on reverse mortgages. You may also contact the National Reverse Mortgage Lenders Association, or "NRMLA" for a licensed representative in your state.
