John Johnson named Reverse Mortgage Consultant at Harbor Mortgage Solutions in Braintree, MA.

Harbor Mortgage Solutions recently announced the appointment of John Johnson as a Reverse Mortgage Consultant, based out of their Braintree, MA office, located at 100 Grandview Avenue.

Founded in 1978, Harbor Mortgage Solutions, through its Senior Homeowner Division, is dedicated to providing customized service for seniors by obtaining the best possible solution for each individual client every time.

Johnson, a civil trial attorney for many years, will be taking on a new role at Harbor Mortgage Solutions, educating and advising fellow senior citizens about the possibility of unlocking the equity in their homes. Well versed in the concept of reverse mortgages, Johnson will share his expertise with clients and their families as they review the options available to senior homeowners.

A graduate of Boston College with a B.S. in History and Government, Johnson also received his L.L.B. from Boston College Law School. In addition to his position at Harbor Mortgage, Johnson is an active member of several civic organizations, including the Bourne, MA Local Comprehensive Planning Committee and the Bourne, MA Charter Review Committee. He is also the Director of the Pocasset Village Association.

Johnson, a native of Abington, MA, currently resides in Pocasset, MA.

The Reverse of Traditional Thinking
A reverse mortgage, essentially the opposite of a traditional or “forward” mortgage, can enable seniors to tap into accumulated equity without having to face ongoing payments. Unlike traditional mortgages where borrowers make monthly payments, in a reverse mortgage the cash flow is reversed, and the lender makes payments to the borrower, enabling borrowers to use the tax free cash they receive in any way that they wish.

There are no minimum income, asset, or credit qualifications to meet and no effect on Social Security or Medicare benefits. The property must be the primary residence of the borrower and properly insured and maintained, with real estate taxes kept current. As long as the borrower continues to live in the property the loan can never be called. Repayment is required if the home is sold, or when the last borrower permanently leaves the property, or passes away. At that time, the heirs can sell, or refinance, the property to pay off the loan.

Once the province of a few small banks and private lenders, the great majority of reverse mortgages today are provided through government-sponsored programs, namely the HUD/FHA Home Equity Conversion Mortgage (HECM) and the Fannie Mae Home Keeper (HK) programs.

Harbor Mortgage Speakers Bureau
Area Councils on Aging, Visiting Nurse Associations, home healthcare providers, civic organizations, and church groups are invited to contact Harbor Mortgage to schedule an educational presentation to learn about alternatives available to senior homeowners, including ways to unlock the equity in their homes.

Customized Harbor Mortgage Solutions
Specializing in conventional residential and reverse mortgages, Harbor Mortgage Solutions, Inc. is located at 100 Grandview Road, Suite 105 in Braintree, MA. George A. Downey, who is now joined by his son Christopher Downey, founded family owned and operated Harbor Mortgage Solutions in 1978.

Assisted by a staff of experienced mortgage professionals, Harbor Mortgage Solutions is dedicated to providing customized service, obtaining the best possible solution for each individual client every time. An equal opportunity lender licensed in Massachusetts and Rhode Island, Harbor Mortgage Solutions is a member of the Massachusetts Mortgage Association, the National Association of Mortgage Brokers, the National Association of Elder Law Attorneys, and the National Reverse Lender Mortgage Association, strictly subscribing to their rigid code of ethics.

For additional information on services offered by Harbor Mortgage please call 781-843-5553 or 800-599-8700, or visit www.HarborMortgage.com.