Where does Mortgage Network do business?
Mortgage Network is based in Danvers, MA. The company was founded in 1988 and offers reverse mortages in state in the USA.
What types of reverse mortgages does Mortgage Network offer?
Mortgage Network allows borrowers to apply for the following types of reverse mortgage.
Lump sum. The borrower can access the entire amount immediately. However, you will need to pay interest on the entire amount regardless of whether you spend it.
Monthly disbursement. With this option, you get a monthly allowance. This is a good option if you need an additional source of income to cover your living expenses. It can be used in combination with a line of credit for additional flexibility.
What fees does Mortgage Network charge for a reverse mortgage?
Mortgage Network may charge a loan origination fee.