Generation Mortgage Launches Estate Guard(TM)

NEW YORK, Nov. 14 /PRNewswire/ -- Launching at a time when the housing market is in a volatile state, Generation Mortgage is pleased to introduce its new Generation Plus Estate Guard feature-a first for the reverse mortgage industry.

An innovative new feature, Estate Guard effectively allows Gen Plus loan borrowers to halt interest accrual on their homes depending on real estate market conditions. A Gen Plus loan is a jumbo reverse mortgage designed for owners of higher valued homes, structured to give them maximum payout at competitive interest rates.

"If a borrower's home value is significantly less than their loan balance, the lender will suspend the interest accruing on the loan," said Jeffrey M. Lewis, Chairman of the Board of Generation Mortgage.

If a future appraisal indicates that the value of the home has risen, the interest rate will resume.

"Estate Guard safeguards the borrower and his heirs, reducing an exposure many have not recognized to be present in non-recourse loans. Of course, any existing Gen Plus borrowers may avail themselves of this option as well," added Mr. Lewis.

According to Joe Morris, CEO of Generation Mortgage, "We are very excited about this creative new feature, never before available to borrowers of jumbo reverse mortgages. Given the cyclical nature of real estate markets, we feel confident Estate Guard will be well-received, safeguarding seniors whose homes could depreciate in value, through no fault of their own."

A US patent application is pending on this important innovation.

The Generation Mortgage exclusive GENERATION PLUS jumbo reverse mortgage is designed to enable owners of higher-valued homes to receive maximum payout at competitive interest rates. Generation Plus loans are available for homes appraised for a minimum of $200,000. Borrowers may choose from three payment options: Single lump sum, line of credit or a combination of both. The proceeds may be used for home purchase and to access equity in a second home. (Second home equity access not available in all states.)

About Generation Mortgage Company

With its sole focus on reverse mortgages, Generation Mortgage offers seniors "A New Generation in Reverse Mortgages(TM)" and pledges to deliver outstanding customer service. They offer a variety of reverse mortgage loans including traditional government-insured loans as well as the innovative Generation Plus(TM) jumbo reverse mortgage loan.

Generation Mortgage is an Equal Housing Lender and member of NRMLA. Corporate headquarters: 3 Piedmont Center, 3565 Piedmont Road NE, Suite 300, Atlanta, GA 30305; Additional information can be found at www.generationmortgage.com .

Licensed in Georgia at 3 Piedmont Center, 3565 Piedmont Road NE, Suite 300, Atlanta, GA 30305; Georgia Residential Mortgage Licensee, #22292. AZ Mortgage Banker License #0113103; GA Residential Mortgage Licensee #22292, 3 Piedmont Ctr, 3565 Piedmont Rd NE, Atlanta, GA 30305; Licensed by the Dept. of Corps. under the CA Residential Mortgage Lending Act; Licensed in IL #MB.6760368; Licensed in KS, Generation Mortgage Co: License # 0075293; Licensed in MN 16719 Jaguar Ave, Lakeville, MN 55044; MO Residential Mortgage Licensee; Licensed by the NH Banking Dept; Licensed at 505 W. Hamilton Ave., Ste 203, Linwood, NJ 08221, PH 609.653.2700 by the NJ Dept. of Banking and Insurance; Licensed by the OR Dept. of Banking; Licensed by the PA Dept. of Banking; TX SML License #68405, OCCC license #51201; Also licensed in AK, AL, AR, CO, CT, DC, FL, HI, IN, KY, MD, ME, MI, MN, MS, MT, NC, NE, NM, NV, OK, SC, TN, UT, WI, WY. Not all products and options are available in all states. Terms subject to change without notice. (C)2007 Generation Mortgage Company, all rights reserved.