Local Reverse Mortgage Company Signs Pat Summerall as Spokesman

Posted by News Feeds

September 14, 2007

Local Reverse Mortgage Company Signs Pat Summerall as Spokesman,

In an attempt to expand their already growing image as the pros in the Reverse Mortgage industry, Fidelis Mortgage signed an agreement with Radio Advantage in Dallas, representing broadcasting legend Pat Summerall. Mr. Summerall recorded a new 60 second radio spot which is currently airing in the Baltimore, Maryland area. “The partnership with Mr. Summerall will ensure that we gain a much larger share of the Reverse Mortgage market than we already have in Maryland” says Eric Rittmeyer, President of Fidelis Mortgage.

With Reverse Mortgages continuing to break records year over year, it is important that homeowners 62 and over understand how they work. With rising healthcare and energy costs, many senior homeowners are finding it more and more difficult to stay in the home they love. In response to the apparent financial problem’s seniors are facing, the U.S. government created a solution to help seniors enjoy their retirement years. The solution is the Reverse Mortgage. Insured by the Federal Government, the Home Equity Conversion Mortgage (HECM), enables homeowners 62 and over to convert part of their homes’ equity into tax free income without having to sell their home, give up the title, or take on monthly mortgage payments.

“The majority of our clients are living in the home that they raised their families in. They normally have a fairly small existing mortgage against their property, and are pleased to learn that the property does not need to be free and clear to qualify for the Reverse Mortgage” says Eric Rittmeyer. After paying off existing liens, the remainder of the proceeds can be received as a lump sum, a monthly payment, an equity line to be used for future needs, or a combination of all three. There are no income or credit requirements for the Reverse Mortgage. All proceeds of the property go to their heirs when the property is sold.

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