Frank and Carroll Demerritt

Frank and Carroll Demerritt

It's easy to see yourself reflected in the Demerritts. Like many of us, they got married, bought a house, and worked hard most of their lives to make it their home.

"Our house means a lot to us," says Carroll Demerritt. "It's who we've been for 51 years." And for most of those years, according to Frank, "we always had enough money to keep us where we wanted to be."

But slowly, things began to change. "The bills kept on coming and it was getting to the point where we were going to have to make a decision," he explains.

Carol adds, "It's never pleasant to face where you are because you've been going along so well with financial matters. But after I decided to retire, a few medical things came up and we realized now was the time to decide whether to sell the house or stay."

But even though they didn't realize it at the time, the solution was right there in front of them: the equity they'd built in their home all those years. "Fortunately, we started hearing about reverse mortgages," Frank says. "Through our connections, we discovered MetLife Bank. From there on, our problem was almost completely solved."

Why? "Because we didn't have to go anywhere," Frank answers. "They came to us. They did everything. We got the final papers stating that the mortgage had been cleared up—and now I don't have to give it another thought."

Which leaves more time to enjoy the home they couldn't imagine leaving. "Paying off the largest debt we owed certainly was a life saver," Carroll says. "It erased one of our biggest problems, which was making the mortgage payment. It's the best thing that's ever happened to us."

So when you think of the Demerritts, Frank would like you to remember one thing: "Don't be afraid to talk to somebody about a reverse mortgage," he says. "It's to your benefit, believe me. It worked for us, it can work for you."