Bob Tranchell/The Federal Savings Bank - Reverse Mortgages Steeple St, Mashpee

We started looking at a Reverse Mortgage several months ago, Bob was one of three lenders we initially contacted for information, within a couple days it became obvious Bob was going to be the one for us. Any time we had questions he was always available to help, responded to e-mails immediately and when we called him, he answered, never had to leave a message. He seamlessly guided us thru all the paperwork until the final document signing. Looking back at the entire process Bob was the perfect choice to handle our Reverse Mortgage Frank & Susan N

Google review My wife and I just closed on a home equity conversion mortgage, also known as a reverse mortgage, with Bob Tranchell, with the Federal Savings Bank. I will summarize this kind of mortgage below, copied and pasted from the bank website, with a link two it. The mortgage is a Really good deal, for people that are at least 62 years of age and own their own home. My wife and I Especially recommend you work with Bob Tranchell. He has always been available to answer our questions by email, even on evenings and weekends. Because the mortgage is underwritten by both the FHA and HUD, the process is much more complicated than with a conventional mortgage. Bob took a lot of time to explain the process thoroughly, and to provide amortization schedules for different scenarios, with different amounts withdrawn initially and periodically. I can’t imagine anyone better to work with than Bob! Also, the title company paid my sewer bill after I did. Is this going to happen every quarter? I have set up an automatic quarterly payment plan. Should I cancel it? What is a HECM? A Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, was created over 25 years ago to help borrowers age 62 and older convert a portion of their home equity into tax-free money. HECMs are insured by the Federal Housing Administration (FHA) and allow seniors to stay in their home and achieve retirement security. Department of Housing and Urban Development (HUD) rules help ensure the financial security of the HECM program and provide additional safeguards for borrowers. How Does It Work? A HECM allows you to convert a portion of the equity in your home into cash. You will continue to live in your home, retain ownership and will not be required to make any monthly mortgage payments during the loan period. However, unlike a traditional home equity loan or second mortgage, you do not have to repay the HECM loan until you no longer use the home as your principal residence or fail to meet the obligations of the mortgage. You will be required to pay for property taxes, home insurance and home maintenance.

We are delighted to recommend Bob Tranchell... based on our very positive experience... he is professional, knowledgeable and always helpful with any of our questions or concerns ... He always made us feel as if we were the most important clients he had ... Simply put .. He’s the best at what he does ... Don & Joan Olson

I just worked with Bob Tranchell, at The Federal Savings Bank, to complete a very difficult Reverse Mortgage. Bob is a Pro at his profession. He is creative, determined, very knowledgeable and caring. He has a number of options that offer you the best possible result. I highly recommend Bob if you have a client who can use a Reverse Mortgage to improve their retirement. Or, if you have need for yourself, he is the best.

Being a remodeling contractor, when the time came to size down we found a wreck of a house in a great location which we bought, gutted, and added a second story, which made it our perfect house for our current needs. All of our investments went into the house...so when we want to retire most of our money was tied up in the house. In order to get to our equity we would have to sell, which was not an option. Bob helped us get a Reverse Mortgage, which allows us to access the equity and still live in our home. Thank you Bob for your help and guidance. We will be happy here for many years to come.

BOB TRACHELL was excellent he was patient with me because it is a very tedious process going through reverse mortgage with the help of John Espinosa by certified financial planner he was excellent and BOB TRACHELL they work together as a team and I am a very happy customer thank you John Espinosa and thank you BOB TRACHELL Bob I gave you five star rating you deserve it!