Wells Fargo Home Mortgage recently announced that Gayle Erickson has joined the company as a reverse mortgage consultant. She will exclusively advise senior homeowners wishing to purchase a reverse mortgage loan in order to tap home equity built up over the years. She is headquartered in St. Petersburg, Florida but will serve clients across the state.
Before joining Wells Fargo, Erikson worked as a personal banker for 12 years at Wachovia Bank.
“We are excited to have a reverse mortgage consultant on our team who will be able to focus on the needs of our senior customers in Florida,” said Raymond Newton, Reverse Sales Supervisor. “Reverse mortgage loans are gaining in popularity among senior homeowners, so we are pleased to offer Gayle’s expert consultation.”
A reverse mortgage loan allows homeowners 62 and over to take out as cash some of their home’s equity as a tax-free lump sum. The owners do not have to sell the home, give up the deed, or pay new mortgage payments. The product can be most ideal for persons wanting to supplement their retirement funds or for those with a small balance remaining on their first mortgage and where a portion of the reverse mortgage funds would go to pay off the original mortgage.
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