Suze Smitha

Anacortes WA Branch Manager Open Mortgage, LLC #2975 NMLS #328815 WA MLO-328815 CL-2975
Individual analysis mutually determines whether or not a reverse mortgage is the right vehicle to meet your financial goals. As your trusted advisor, I look forward to guiding you in your decision making process. In consideration of accessing the equity in your home, we will determine which product becomes the best solution to accomplish your financial objectives.

My background is banking, which indicates attentive listening, mutual trust and problem solving for those in need of my services. In the past, I have worked primarily with investments. However, working in the reverse mortgage industry has been the most rewarding part of my career. The concept of a reverse mortgage is often misunderstood. Happily, my expertise on this subject is a result of many years of working with the senior population.

- (a) at the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds
- (b) charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees
- (c) the loan balance grows over time and interest is charged on the outstanding balance
- (d) the borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home
- (e) interest on a reverse mortgage is not tax-deductible until the borrower makes partial or full re-payment.
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