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Congressman and Reverse Mortgage Lender Work to Save Seniors Home

When a Congressman, reverse mortgage lender, and a local church work together, good things can happen.

After hearing that Claudia Turrentine’s home was days away from auction, Malcolm McLean – a certified Reverse Mortgage Specialist who runs www.yes4reverse.com – knew he had to move fast and told Hollywood Today “I realized that short of a miracle, a reverse mortgage was the only shot at saving her home”.

Ms. Turrentine’s loan from Wachovia had ballooned to $383,000, and due to falling home values, she was $90,000 short of qualifying for a reverse mortgage.

McLean approached Congressman Adam Schiff, who represents the 29th Congressional District, and requested his help to save the 80 year old woman’s home.  Schiff immediately issued a Congressional Inquiry to Wachovia, outlining his concern that a senior homeowner with very little income could qualify for such a big loan.

Next, McLean, reached out to the Deliverance Tabernacle Church of God, where Claudia had been a member for more than 50 years.  The congregation raised $40,000 to help pay down the loan – but Claudia was still more than $50,000 short to qualify.

To make a long story short, Wachovia took a BIG hit… to see how BIG and how it ended check out the link below.

Miracle on East Mariposa Street