Ed Barrett is Salem Five Mortgage Company’s reverse mortgage specialist. Ed brings more than 20 years of mortgage lending experience to Salem Five and specializes in FHA and Home Equity Conversion Mortgage (HECM) reverse mortgages in Massachusetts, New Hampshire, Rhode Island and Maine.
For many senior homeowners, the ability to access home equity through a reverse mortgage affords them the luxury of remaining in their home as they age. Ed prides himself in working closely with seniors and their families to make the reverse mortgage program a smart option for many of them.
Ed graduated from the University of Maine, Orono with a Bachelor of Arts. He resides in Dedham with his wife and two children.
NMLS Unique Identifier: 13126
“When we called Salem Five to inquire about Reverse Mortgages, we learned that the Reverse Mortgage would allow us to eliminate our current monthly mortgage payment. This freed up over $1,000 a month, allowing us to live more comfortably. We have a line of credit with our Reverse Mortgage now, so when our tax bill comes due, we have the money to pay it, or for other unexpected expenses.” – Dominic and Mary
“When my husband died, the household income dropped by half. Unfortunately, my real estate taxes, and every other expense didn’t come down at all. I knew I wanted to stay in my home for as long as possible, and a Salem Five Reverse Mortgage has allowed me to do just that…without having so much financial stress.” – Elizabeth
“Our financial advisor suggested we look into a reverse mortgage to supplement our retirement income. We planned well for retirement, but having the additional availability of reverse mortgage funds has given us more flexibility financially, especially when the markets are not performing as well. Instead of having to keep drawing from retirement funds when the market goes down, we have been able to use the reverse mortgage to balance things out.” – Leo and Paula
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