Reverse Mortgage Specialist to Serve Ohio Seniors

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 23, 2009 -- In this role, Mr. Felter will work exclusively with senior homeowners seeking a reverse mortgage, a home financing program that allows homeowners to utilize the equity in their home to supplement their retirement income or use as desired. Mr. Felter will be based in Wells Fargo Home Mortgage’s Springfield, OH office, but will serve customers throughout the state.

Mr. Felter has more than 17 years of lending and financial experience. Prior to returning to Wells Fargo Home Mortgage he served in a wholesale capacity for a subsidiary of Merrill Lynch.

Mr. Felter’s strong background, education, training and integrity will serve as important assets to the community and Wells Fargo Home Mortgage. Reverse mortgages are gaining in popularity among senior homeowners and their advisors, so we are pleased to offer Russell’s expert consultation. He can be reached at russell.felter@wellsfargo.com.

A reverse mortgage is a loan that enables senior homeowners to convert part of the equity in their home into tax-free payments without having to sell their home, give up title, or take on new monthly mortgage payments. Reverse mortgages are generally limited to individuals 62 years and above who own their home free and clear of debt or owe a balance small that can be paid off with a reverse mortgage. The FHA reverse mortgage also allows seniors to finance the purchase of a home without a monthly mortgage payment.

Wells Fargo Home Mortgage is the nation’s No. 1 retail mortgage lender and leading servicer of home mortgages, and also the leading originator of reverse mortgages.

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