Important Notice:
Please be aware email is not a secure method of communication.

Do not use email to send us confidential or sensitive information such as passwords, account numbers or social security numbers. If you need to provide this type of information, contact us by phone, fax or regular mail.

Email Now Return to Berkshire Bank 
 

 
Center column content
Headline

Reverse Mortgages 

 
Video and accompanying text
Block Page Video

What Is A Reverse Mortgage?

According to the U.S. Department of the Treasury, a Reverse Mortgage is a loan that is secured by your home. You receive payments from the lender (either over time or all at once) based on the value of your home at the time of the loan.

As you receive payments, these amounts are added to your loan balance. Interest is then charged on the outstanding balance, so even if you do not receive any further payments from your lender, the loan balance continues to increase.

To find out if a Reverse Mortgage is for you, you can view a PDF of the helpful booklet: Reverse Mortgages: Are They For You? by clicking here.

 

Right column content
Content definitions:
Sidebar Business Login
Sidebar Personal Login
Sidebar Freeform
Sidebar Image and Link

Financial Literacy Toolkit