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State DirectorySecurity 1 Lending
Navy Federal Credit Union
Serving the Lancaster area.
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Helping Seniors Maintain Their Quality Of Life!
- Hours
- Do you know the hours for this business?
- Phone:
Main - 717-487-2314
- Address:
- 2148 Embassy Dr Suite 101 Lancaster, PA 17603
- Category
- Mortgages
- Location
- Covering Central Pennsylvania
General Info
Susan Feltenberger is a local Reverse Mortgage Consultant with 8 Years of Experience. Susan has an extensive Banking and Mortgage Background. Helping Seniors maintain their quality of life. Program available to homeowners 62 and older. Live the retirement you deserve, with a reverse mortgage! Program available to homeowners 62 and older. Live the retirement you deserve, with a reverse mortgage! Security 1 Lending is a top 5 producing Reverse Mortgage lender solely dedicated to the Reverse Mortgage industry and defined by the following Core Values: Integrity *Work Ethic Loyalty * Compassion Frequently Asked Questions Below is a list of Frequently Asked Questions by category. If you do not find the answer to your question(s), please don't hesitate to call . At Security 1 Lending our specialists are fully trained to help educate and guide you in the right direction with no obligation. Look for your question below: Do I have to own my home free and clear to qualify? You can payoff your existing mortgage with the proceeds from the reverse mortgage. Many people get a reverse mortgage to eliminate their monthly payments permanently. Will there be any tax liability once I close on my reverse mortgage? No there is not. Currently the IRS treats monies received from the reverse mortgage as loan advances, therefore, the proceeds are not considered taxable income. For more specific information, please consult a tax advisor. Will a Reverse Mortgage affect Social Security Benefits, Medicare or my Pension? No it will not. The proceeds from a reverse mortgage does not affect these benefits. For your specific situation please contact your benefits specialist. If something happens to me, can my spouse continue to receive the benefits from a Reverse Mortgage? Yes they can. As long as you were joint borrowers on the application for Reverse Mortgage and your spouse wants to remain in the home. Can I still leave my home to my kids? Yes you can leave your home to your heirs. Your home will always remain your home. You may leave it to whomever you wish. When you pass away your heirs will have options for paying off the loan. After the debt is repaid, any remaining equity (if they choose to sell it) will go to your heirs.