We at Senior Reverse Mortgage Group focus exclusively on just that.catering to the needs of seniors seeking the loan instituted to enjoy the golden years when traditional mortgages are not available due to lack of sufficient income, ability to make payments. Income, assets, monthly living expenses and credit history will be verified.
This is all we do, so we are able to be knowledgeable of trends, guidelines, new products and ways to serve the senior community at our best. We have 20 years experience in the mortgage industry, and always strive to be current within the ever changing industry.
This is all we do, so we are able to be knowledgeable of trends, guidelines, new products and ways to serve the senior community at our best. We have 20 years experience in the mortgage industry, and always strive to be current within the ever changing industry.
Services
To qualify for a reverse mortgage, the home must be your primary residence. 1-4 family residences, condos, and manufactured homes are eligible, but vacation homes, secondary residences and rental properties are not currently eligible. However, any existing mortgages or liens on your home must be first paid off with the reverse mortgage loan proceeds before you can receive any leftover funds.
Reverse mortgages allow borrowers to access a portion of their home equity in a variety of payment options, including a lump sum, monthly installments or through a line of credit. Of all the different options, the line of credit strategy has been gaining considerable attention from financial planners largely due to its unique "growth feature."
Boosts cash - Many seniors experience a significant income reduction when they retire. Monthly mortgage payments are the biggest expense for many. A senior with sufficient home equity, however, can refinance, pay off an existing regular mortgage, and even pull cash from the property with a reverse mortgage.
Reviews (10)
Aline Rodrigues
Sep 29, 2021
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Peg Wineberg
Apr 05, 2021
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I still thank God for the day that I found your name and number for a possible Reverse Mortgage. You cannot imagine how devastated I felt when I was immediately turned down by other Reverse mortgage companies. My condo wasn't approved by FHA, but you got me the reverse mortgage! HIGHLY RECOMMEND!!
Thank you again!
Thank you again!
Linda Bennett
Mar 18, 2021
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Teri Bendit
Jul 27, 2019
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5.0 star rating
8/28/2018 .FROM: Rick Williams, Managing Broker, Kale Realty. I want to thank Teri Bendit of Senior Reverse Mortgage Group for providing wonderful seminars for my real estate agents and myself here at Kale Realty (Lincoln Park-Chicago). My brokers have been enlightened and now truly understand how this type of mortgage for 62+ year old people can truly benefit them with a loan product such as this. Each month Teri imparts her great knowledge of the senior marketplace loan product to my agents at the firm and each month a new set of agents are truly equipped to handle this great
8/28/2018 .FROM: Rick Williams, Managing Broker, Kale Realty. I want to thank Teri Bendit of Senior Reverse Mortgage Group for providing wonderful seminars for my real estate agents and myself here at Kale Realty (Lincoln Park-Chicago). My brokers have been enlightened and now truly understand how this type of mortgage for 62+ year old people can truly benefit them with a loan product such as this. Each month Teri imparts her great knowledge of the senior marketplace loan product to my agents at the firm and each month a new set of agents are truly equipped to handle this great
Carole Hellman
Jan 07, 2019
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Warren Todd
Sep 14, 2018
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Terese Howard
Jul 21, 2018
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Joey Andersen
Jul 21, 2018
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I have had a reverse mortgage in the past and loved it! This time was even better! More personalized attention, easier to understand, in my home. That is important since we cannot get out so easily. I did a reverse purchase and was able to get the home I thought I could not afford, and still had alot left over. Recommend.
Susanna Barang
Jun 02, 2018
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A. Michaelson
May 22, 2018
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Teri is extremely professional in her knowledge and disseminating knowledge about this product. In a day of mediocre customer service, Teri is that shining star in an otherwise starless night. Great product knowledge and one great communicator. When it comes time for that reverse mortgage my wife and I are going to go with Teri!
