• Guilford Savings Bank

    Sylvia Patterson
    Reverse Mortgage Specialist

    203-458-5414 (phone)
    203-453-6637 (fax)

    Guilford Savings Bank (GSB) strives to be the primary relationship bank serving the traditional and evolving financial needs of individuals, families and businesses in its shoreline communities. Founded in 1875 by local business owners, GSB has proudly stood as a trusted institution for over 135 years.
    Sylvia Patterson has been in banking for more than 20 years and in the past 5 years, she has found her passion in helping the elderly community with reverse mortgages.
    As the Reverse Mortgage Specialist at GSB, Sylvia welcomes the opportunity to inform and educate homeowners who are age 62 and over about the reverse mortgage product.
    A reverse mortgage allows a homeowner to access some of the equity in their home by either receiving monthly payments or receiving a line of credit which can be used as needed. You can use the cash for whatever you choose such as home improvements, travel, medical expenses, automobiles and more. Unlike a forward mortgage, the reverse mortgage proceeds need not be repaid for as long as the home is the borrower’s primary residence.
    As we grow older our concerns about having sufficient funds during our lifetime grow as well. We may worry about having enough money to pay for increasing taxes, medical equipment and medical bills. We consider hiring help for tasks that become too difficult to do ourselves and perhaps eventually we require additional help in the form of in-home care. There may also still be the burden of a mortgage or loan to be paid monthly. A reverse mortgage could be the answer to these concerns.
    We so often hear from satisfied reverse mortgage customers how the product has changed their life and finances for the better. Maybe it can make your life easier too. Why not give Sylvia a call to schedule a meeting to see if a reverse mortgage is right for you. Remember, educating yourself about your options gives you the power to make wise decisions about your future.