Zions Bank Reverse Mortgage

Posted by Charles D

November 4, 2009

Zion Bank Reverse Mortgage Loans

zionsbank-reverse-mortgage

General Information
Zions First National Bank is a subsidiary of Zions Bancorporation which operates through over 500 offices and 600 ATMs in 10 Western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. As a full-service bank, Zions offers commercial, installment and mortgage loans; trust services; foreign banking services; electronic and online banking services; automatic deposit and nationwide banking and transfer services; as well as the more familiar checking and savings programs.
Life seems to get more expensive every day. And, there’s no end in sight to the expenses. After all those years of house payments, yard work, and seemingly endless home improvements, isn’t it time to profit from that effort?

That’s where a Zions Bank Reverse Mortgage can save the day. It’s so flexible, you can completely tailor it to your own life - whether it’s extra income each month, or a handy line of credit for unexpected purchases. It’s the perfect way to get the extra money you need.

Enjoy Life The Way You Like
With a reverse mortgage from Zions Bank, you can have easy access to the equity reserve of cash you’ve built up in your home. As a result, you’ll have the funds to buy a new car, take that trip of a lifetime or anything else you have in mind.

Here’s the best news: You’ll still retain ownership of your home. Whether you choose later to sell it or stay in it for the remainder of your life, it’s totally your decision. Our reverse mortgage lets you keep your life just the way it is, only better.

Here’s How A Reverse Mortgage Works
They call it a reverse mortgage for a very good reason - it’s just opposite of buying a home. Here’s how: When you buy a home, you use a mortgage to turn your income into equity. With a reverse mortgage you turn your equity into income. You still retain ownership of your home. All it takes is a call to one of Zions Bank’s friendly loan officers. They’ll help you understand whether or not the reverse mortgage program is right for you. If it is, they’ll continue to help you every step of the way to make sure you’re 100% satisfied.

A Safe Way To Access Your Home’s Equity
For your safety and protection, reverse mortgages are insured and monitored by the federal government similar to a regular mortgage. We comply with federal laws and guidelines to ensure that our customers are completely protected.

In fact, a reverse mortgage is the safest of all mortgages - period! Remember, you retain the title of your property, you’ll never owe more than the value of your home and you’ll never outlive the loan or be obligated to make payments as long as you own and occupy the home. The U.S. Department of Housing and Urban Development guarantees it. You’ll also have the confidence of Zions Bank behind you. We’ve been helping people since 1873. We’re here to help you, too!

Fees & Charges
As with most mortgages, there are typical fees that apply to a reverse mortgage. Usually, these fees can be completely financed. Which means you won’t have to pay for them out of pocket. Once your Zions Bank Reverse Mortgage is in place, you won’t have to worry about any other fees or payments during the life of the loan.

Determining Eligibility
To participate in the Zions Bank Reverse Mortgage program, you and any joint borrower must be at least 62 years of age. You must own your home free and clear, or pay off any existing balance on your present mortgage. You can use a portion of the proceeds of your new reverse mortgage for this purpose. In addition, the home for which you’re receiving the reverse mortgage must be your principal place of residence. Call one of our loan officers for full details, and see if a reverse mortgage is right for you.

Work With A Bank You Can Trust
At Zions Bank we’re committed to helping you. We’re your local bank, and the people you’ll be working with are neighbors in your own community. When it comes to financial matters we’re a proven, safe choice