Maine Care Planning Council
Find a Council Member Providing Reverse Mortgage Services.
Use the search, map, or area links below (scroll down) to find help where you live in Maine.
Reverse Mortgage & HECM Services in Maine
Southern Maine
Augusta, Auburn, Biddeford, Brunswick, Portland, Lewiston, Sanford, and surrounding areas
Although this area is temporarily without a member to assist you we can still help you with any concerns you may have. We can also put you in contact with various elder care services in Southern Maine. Click here to Request Assistance from the Maine Care Planning Council.
Central Maine
Bangor, Belfast, Ellsworth, Oakland, Old Town, Skowhegan, and Waterville and surrounding areas
Although this area is temporarily without a member to assist you we can still help you with any concerns you may have. We can also put you in contact with various elder care services in Central Maine. Click here to Request Assistance from the Maine Care Planning Council.
Northern Maine
Bridge Water, Caribou, Fort Fairfield, Houlton, Mars Hill, Presque Isle, and surrounding areas
Although this area is temporarily without a member to assist you we can still help you with any concerns you may have. We can also put you in contact with various elder care services in Northern Maine. Click here to Request Assistance from the Maine Care Planning Council.
Click on the Map to Locate Services
Southern Maine: Augusta, Auburn, Biddeford, Brunswick, Portland, Lewiston, Sanford, and surrounding areas
Central Maine: Bangor, Belfast, Ellsworth, Oakland, Old Town, Skowhegan, and Waterville and surrounding areas
Northern Maine: Bridge Water, Caribou, Fort Fairfield, Houlton, Mars Hill, Presque Isle, and surrounding areas
About Reverse Mortgages
For many seniors in Maine the equity in their home is their largest single asset, yet it is unavailable to use unless they use a home-equity loan. But a conventional loan really doesn't free up the equity because the money has to be paid back with interest.
A reverse mortgage is a risk-free way of tapping into home equity without creating monthly payments and without requiring the money to be paid back during a person's lifetime. Instead of making payments the cash flow is reversed and the senior receives payments from the bank. Thus the title "reverse mortgage".
Many seniors are finding they can use a reverse mortgage to pay off an existing conventional mortgage, to create money for a down payment for a second home or to pay off debt. Popularity is skyrocketing. Over the last five years the number of reverse mortgages nationwide has tripled. The uses of this untapped wealth are only limited by a person's imagination.
For those seniors who are less fortunate financially but own a home, a reverse mortgage can allow them to remain in the home by creating extra income. It can also allow for remodeling or repairs and when the time comes to sell, the investment in the home can make it more valuable.
