Shop for the best reverse mortgage deals in Staten Island, New York
Meet James Favilla
Reverse Mortgage Specialist
James Favilla and Regional Reverse Mortgage are the team to talk to in Staten Island when you need the lowdown on reverse mortgages, from West New Brighton to Pleasant Plains in Richmond County and throughout New York and New Jersey.
James and the Regional Reverse Mortgage team are proud of their reputations in conducting business with the utmost integrity and honesty.
James is a residential home loan and reverse mortgage expert. Whether you're looking to purchase a new home or refinance your existing one, James offers a wide range of mortgage options specifically tailored to meet everyone’s needs.
His customers are his top priority. James delivers on his promise to make this your best mortgage experience ever, providing expert advice and personalized service to every client, every time.
What is a reverse mortgage?
A reverse mortgage is one of the most ingenious loans on the market. That’s because it allows homeowners the opportunity to free up the equity they have built in their property.
If you are at least 62 years of age, you can apply for this life-changing product which lets homeowners trade out “careful” for “comfort”. All while remaining in their treasured home!
Homeowners can draw down funds in a variety of different ways; including a line of credit which is great for financial flexibility, saving them the trauma of having to sell up and downscale.
The real power of a reverse mortgage loan is that provided the terms of the loan are met, it does not require repayment of the loan until either the homeowner sells the residence or the last surviving borrower passes away. It is one of the most astute ways you can give your standard of living a massive boost and leave your financial worries behind.
Housing prices are trending upwards across the country and Staten Island is no different. They have jumped nearly 6 percent in the last 12 months to an average of $737,699. (https://www.zillow.com/staten-island-new-york-ny/home-values/)
People all over Staten Island are using reverse mortgages - 2852 have one and 119 of them have purchased one in the last 12 months.
About Staten Island, New York
Staten Island was named after the Staten-Generaal (States General) of the Dutch Republic. English and Welsh farmers moved to the island in 1664, following the acquisition of New Netherland, the first Dutch colony in North America, by Great Britain.
The borough itself was originally known as the Borough of Richmond until it became the Borough of Staten Island in 1975.
With a population of just 500,000 people, Staten Island has sometimes been called the “forgotten borough." Curiously, despite being culturally linked to and part of New York, the island itself is geologically part of New Jersey.
The borough includes a number of smaller and uninhabited islands; including The Isle of Meadows, Prall’s Island, Shooters Island, Swinburne Island and Hoffman Island.
Contact your Staten Island reverse mortgage lender today.
For some great advice on how to make your life easier, please call James today at (732) 239-4855.
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