Local resident and loan originator MaryLou Lopez recently received her credentials to originate reverse mortgages.
Lopez is part of the lending team at Primary Residential Mortgage, Inc. (PRMI), a residential mortgage lender that serves Grand and San Juan counties.
As a 39-year resident of Moab, Lopez said she has watched the area transform into a popular tourist destination, which has impacted the housing market and created unique challenges for residents. Drawing from her financial experience, understanding of local demographics and recent certification to originate reverse mortgages, Lopez said she is equipped to address the ever-changing needs of the community.
“I believe in facing challenges head-on with a smile on my face, and I embrace the opportunity to assist the residents of Moab in achieving their home ownership goals,” she said. “My recent certification is simply one more way I can help my customers by working with them to make educated and confident decisions about accessing the equity in their homes through our reverse mortgage program.”
A reverse mortgage, also called a Home Equity Conversion Mortgage (HECM), allows borrowers to use the equity in their home as cash. Reverse mortgages are for individuals who are 62 and older who would like to access the funds from the program to pay for home repairs or renovations, debts and taxes, medical bills and everyday expenses.
Lopez can be reached at PRMI’s Moab branch, 285 S. 400 East, Suite 212, or at mlopez@primeres.com.
