Lending will initially only be available to residents of Colorado
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MortgageRewind.com has announced the launch of its online reverse mortgage lending platform.
The reverse mortgage start-up currently offers all types of reverse mortgages, home equity loans, new purchase mortgages, and mortgage refinancing.
The company’s reverse mortgage products are initially only available to Colorado residents. However, lending through MortgageRewind is set for nationwide expansion later in 2018.
“After months of development, collaboration, training, and education, we are proud to announce the launch of MortgageRewind.com,” said Jered Klima, MortgageRewind.com president and founder. “We realized there’s a need for more available lenders that can offer reverse mortgages as a smart financial tool for those 62 or older.”
The company said it seeks to help borrowers rethink their mortgage future by eliminating expensive monthly mortgage payments.
“The average American couple aged 65 or older has more than two-thirds of their total wealth tied up in home equity, which is a big problem for someone no longer working and receiving minimal or no retirement income,” Klima said. “That’s exactly why I’m so dedicated to the success of this company and the financial security of retired Americans.”
