Retirees introduced to reverse mortgages at Stillwater Public Library on Oct. 21

(STILLWATER, OKLA. / Oct. 13, 2015) –– On Wednesday, Oct. 21, at 1:30 p.m., David E. Lee, Founder, Owner and Manager of Centennial Home Mortgage and Insurance will present “Understanding Reverse Mortgages.” The class is part of the OSU Emeriti Association’s monthly retirement series, “Making the Most of Retirement,” which meets each month at Stillwater Public Library

“Reverse mortgages are a smart and safe way for seniors to access the equity in their homes without having to sell the property,” said Lee. “They can help seniors live more comfortably and be more financially prepared for the future, while remaining in their own home.”

According to Lee, reverse mortgages are available exclusively to people age 62 and older and their spouses. This type of financial arrangement can provide retirees with many options, including using the mortgage to establish a “stand-by” line of credit that can be tapped as needed; to finance the purchase of a more suitable home; or to receive supplement retirement income with funds that are not taxed as income.

During the program, Lee will explain how reverse mortgages operate, the types and benefits of reverse mortgages and how to determine whether a reverse mortgage is the right choice for a retiree.

Lee is a graduate of Memphis State University. In the late 70’s, he joined a major mortgage company, then retired 25 years later to form his own company. Lee’s company has been in business since 2007 and emphasizes helping seniors with retirement choices.

“Making the Most of Retirement” is free and open to all retirees.  It meets the third Wednesday of each month.  Upcoming programs include “Volunteering for Stillwater’s Habitat for Humanity” with Bud Lacy and Jennifer Dault on Nov. 18 and “Stillwater Medical Center:  New Patient Care Developments” with Scott Petty on Dec. 16.

For more information, visit http://retiredinstillwater.wordpress.com or contact the library at 405-372-3633 x106 or askalibrarian@stillwater.org.

 

The Stillwater Public Library is located at 1107 S. Duck St. (the corner of Duck and 12th Ave.).  Visit the library online at http://library.stillwater.org.