Online Banking
Reverse Mortgages
Seniors aged 62 and older can enjoy financial freedom by obtaining a Reverse Mortgage from Bank of New Orleans.
Some of the facts about Reverse Mortgages:
- Reverse mortgages are for homeowners age 62+.
- No monthly principal or interest payments while you live in your home. You are responsible for paying taxes and insurance.
- Does not typically affect Social Security. Consult your benefits specialist or financial advisor to determine if Reverse Mortgage payments or proceeds affect your particular situation.
- Loan proceeds are typically tax-free. Consult your tax professional to determine the specifics of your particular situation.
- Consolidate your debts.
- Under normal circumstances, your home remains yours. Failure to pay taxes and insurance or otherwise comply with the terms of your loan may result in foreclosure.
Click here to hear Mr. Robert Harrison, a happy BNO Reverse Mortgage customer, give his testimonial.
Additional information on Reverse Mortgages:
- How the Reverse Mortgage Process Works
- Repayment of a Reverse Mortgage
- Common Misconceptions About Reverse Mortgages
Contact
Sue Vrbaskovich
Reverse Mortgage Specialist
NMLS# 355380
504-834-1190, ext. 128
Marilyn Cox
Reverse Mortgage Specialist
NMLS# 685994
504-834-1190, ext. 357
These materials are not from HUD or FHA and were not approved by HUD or a government agency. Bank of New Orleans NMLS# 329248.
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