Seniors Home Reverse Mortgage
Meet the Team
Skip Fossett - Reverse Mortgage Consultant
Skip spent almost 8 years on active duty as a Naval Aviator/Pilot and retired as a Commander in the Navy Reserves after more than 23 years service. He is married to Jill Fossett and together they have two beautiful daughters. Skip is lifelong resident of Decatur, Ga.
Skip has spent most of his life working in service related industries, from the military to sales, as well as volunteer service organizations such as Habitat for Humanity and Christmas in April, a local/Atlanta organization providing relief for low income, senior homeowners.
Skip holds a BA in Political Science from Randolph-Macon College and a Masters in Management from Troy State University. He has been a pilot at a major US airline for over 21 years and currently flies internationally as a Captain on the Boeing 737. Skip finds great satisfaction in the process of working with people to find solutions to their challenges.
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Fast Facts
Reverse mortgages allow you to convert equity in your home into supplementary cash to use whenever, and however, you wish: as a lump-sum, monthly payment or as a line of credit you can tap as needed. The loan does not have to be repaid as long as you continue to live in your home.
The loan is backed and guaranteed by the Federal Government.
The home must be your primary residence.
Title to the property remains in your name.
Borrower must pay property taxes, hazard insurance and keep the home maintained.
You do NOT make monthly payments. EVER!
Cash received is TAX FREE!
You own your home – no different than a traditional mortgage.
Social Security benefits and Medicare are generally not affected by a reverse mortgage – consult your tax advisor.
