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Reverse Mortgages

Will your retirement funds last?

In the current economic times, it is not uncommon to see many senior homeowners struggling to pay their debts, which can include mortgage payments, medical expenses, home repairs and other everyday expenses. If you’re 62 years of age or older and have sufficient equity in your home, the Reverse Mortgage loan may help you obtain some financial peace of mind.

Please Note: Ottawa Savings Bank is committed to protecting your privacy and ensuring your private information is secure. For your protection, please do not send sensitive information such as account numbers, Social Security Numbers or private information through email.

Details & Benefits

A Reverse Mortgage can help you:

  • Pay off your existing mortgage, credit cards & other debts
  • Improve your monthly cash flow
  • Build a “safety net” for unplanned expenses and medical bills

A few of the benefits of the Reverse Mortgage are:

  • $0 monthly loan payments
  • Stay in your home
  • Maintain the title to your home
  • Loan proceeds are TAX FREE
  • US Government insured loans

We offer safe and secure reverse mortgage loans that help you remain in your home. To learn more about your options, contact our Reverse Mortgage Advisor Michael Wendorf.


Michael R. Wendorf
Director of Mortgage Banking & Reverse Mortgage Advisor
(815) 366-5477
[email protected]

As a long time resident of Ottawa with more than 35 years experience in the mortgage industry, Mike brings a great deal of value to Ottawa Savings Bank as our Reverse Mortgage Advisor. As someone who was the primary caregiver for his elderly father, he is very familiar with the cares and concerns of older adults as they look for answers. His compassion, strong communication and listening skills, patience and past personal experience offers the ability to relate and understand his client’s needs and well being. In his spare time, he enjoys playing golf, watching major sports and spending time with his grandchildren.

“Working with older adults and reverse mortgages is the most rewarding thing I have done in my career.” – Michael Wendorf