Reverse Mortgage Loans

Helping Seniors Live More Comfortable Lives


Mark Trott - Reverse Mortgage Specialist

Over the past several years, reverse mortgage lending has become increasing popular among senior citizens nationwide. According to statistics provided by the U.S. Department of Housing and Urban Development (HUD) and the National Reverse Mortgage Lenders Association (NRMLA), over 58,043 new reverse mortgage loans were originated nationwide in 2015.  In fact, over 966,000 reverse mortgage loans have been originated in the United States since 1990. 


Ulster Savings offers a wide range of reverse mortgage lending products. If you (or someone  you know) are 62 or older and live in your own home, you should consider learning more about the unique benefits of a reverse  mortgage loan. 

A reverse mortgage is a loan secured by your home that allows you to access your home’s equity without having any required monthly mortgage payment. The loan is repaid when you sell your home or no longer occupy it as your primary residence.

Commonly referred to as a “HECM” (Home Equity Conversion Mortgage) loan, a reverse mortgage loan allows you to convert your equity into cash – cash you can use to supplement your monthly income, pay for rising fuel costs or health care expenses, home renovations, debt consolidation, property taxes, or for any need at all!

The proceeds from a reverse mortgage loan can be paid to you in a variety of ways:

  • All at once, in a single lump sum.
  • As a regular monthly cash advance.
  • As a credit-line account that lets you decide when and how much of your available credit is paid to you as needs arise.
  • Or as a combination of these payment methods!

For more information about reverse mortgages, call or e-mail Mark Trott, our Reverse Mortgage Specialist, today!

Fair Lending / Fair Housing Statement
Ulster Savings Bank is committed to making high quality banking and credit services available to all applicants consistently and in compliance with fair lending and fair housing laws and within the confines of safe and sound banking practices.  Ulster Savings Bank believes that its commitment to fair lending and fair housing is a good business practice as well as a basic responsibility of the company.  The Bank's success at serving a wide range of consumer and business customers is essential to the economic welfare of the community in which it conducts business and to the continued growth and vitality of the company.

National Reverse Mortgage Lenders Association icon

Reverse Mortgage Loans

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Equal Housing Lender

NMLS #619306

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