Ask the ExpertMortgage We are senior citizens and financially over extended. Is it possible to attain a low-rate loan?
We suggest scheduling a GreenPath debt counseling appointment so a counselor can explore your options with you. A debt management program may be a better option for you than adding to your debt with another loan.
Senior citizens with home equity may also take advantage of a reverse mortgage. GreenPath can explain reverse mortgages to you or you can visit one of the following websites to learn more about reverse mortgages:
- National Center for Home Equity Conversion
- U.S. Dept of Housing & Urban Development)
- Association of Retired Persons (AARP)
- National Reverse Mortgage Lenders Association www.reversemortgage.org
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