The Transylvania Times -

Understanding Reverse Mortgages Class Set For Silvermont March 9 – Brevard NC


February 16, 2017

Silvermont Opportunity Center and OnTrack WNC Financial Education & Counseling are offering the workshop Understanding Reverse Mortgages as a free opportunity to learn about this important and often confusing financial product.

The workshop will be held on Thursday, March 9, from 1:30-3 p.m. The class will be held at the Silver-mont Opportunity Center at 364 East Main St. in Brevard. This financial education opportunity is open to the community and there is no charge to attend. Register by calling OnTrack WNC at (828) 255-5166 ext. 3.

OnTrack WNC’s HUD-certified counselor, Suz-anne Ellison, will teach the class, which is an introduction to reverse mortgages. It will include eligibility requirements, types of reverse mortgages, how cash is paid out, how loans are repaid, and how loans are structured. In addition, there will be scenarios which show the pros and cons of reverse mortgages and how to determine if you have enough equity in your home.

“Reverse mortgages are being marketed heavily on television, the Internet and by email. Based on the advertisements it would be easy for older adults to think they are a quick-fix for financial challenges,” said Celeste Collins, executive director of OnTrack WNC. “We created the Understanding Reverse Mortgages class to give senior citizens an opportunity to learn about the product in an interactive, educational environment without any sale pressure.”

Thanks to funding from United Way of Transyl-vania County and partnership with WCCA, OnTrack WNC’s counseling and education services are offered in Transylvania County. Learn more at


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