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Source: Tulsa World, Okla.迷你倉Jan. 03--1: How close is Firstar Bank to opening its new reverse mortgage office at 91st Street and Yale Avenue? What amenities and services will it offer?Due to the success we've enjoyed, Firstar Bank's Reverse Mortgage Division moved to a larger office space on Dec. 30. Our new offices located at 91st Street and Yale Avenue will house the 16 employees who work in our Reverse Mortgage Division and allow room for future expansion.Reverse mortgages are loans exclusively for people 62 years of age or older. Firstar began offering reverse mortgage loans in 2012 and is currently one of the top 50 reverse mortgage lenders in the United States based on the volume of loans processed. The bank makes reverse mortgages to seniors nationwide.2: How does a reverse mortgage loan work, and who should consider getting one?Reverse mortgage loans allow the borrower to convert the equity in their home into available cash. Unlike a traditional mortgage, there are no monthly payments to a lender, which provides more financial freedom for the borrower.The proceeds of a reverse mortgage can be used as a borrower sees fit. Some common uses are to supplement income, pay medical expenses, pay taxes, eliminate credit card debt, make home improvements and travel.3: What led you to pursue a career in lending?When I got out of the Marine Corps, I moved to Denver and was introduced to the insurance industry. The company I worked for specialized in products for seniors with an emphasis on long-term care insurance. Once I learned about the growing need for long-term care, I became a big believer in the product and realized it is a major concern for most seniors, as well. But a bigger concern was how they'd pay for their care while living on a fixed income as well as covering their day-to-day needs.That is when I came across reverse mortgages. Fourteen years later, I'm still making reverse mortgage loans and am as passionate as ever a迷你倉將軍澳out the product. It's a lot more fun and rewarding to increase someone's disposable income than it was selling insurance.4: How do you enjoy spending your time when you're not overseeing the bank's Reverse Mortgage Division?Since coming on board at Firstar two years ago, building this new division has been my main focus. I haven't escaped for much more than a weekend.I'd say that going to Grand Lake is my favorite weekend getaway, and actually the fall and winter is my favorite time up there. Also I've recently moved to the midtown area of Tulsa. Trying out the different restaurants and learning that part of Tulsa has been a lot of fun, as well.5: Do you have a to-do list of either personal or professional things you would like to accomplish in your lifetime? If so, what are some of them?Personally, I'd like to do a lot more traveling. During the short time I served in the military, I was blessed to visit five continents. I'd like to do more of that as a civilian. There are many places I'd love to see and experience, even for a short time.Professionally there are some things within the reverse mortgage lending arena that I'd like to accomplish. There is a lot of misunderstanding about reverse mortgage loans. I'd like to help people understand the benefits. A reverse mortgage loan could help a borrower start a business, pay for a life-saving operation or make needed repairs to their home.Outside of lending, I've always wanted to own a restaurant with a focus on small plates. But right now, that is probably more of a long-term dream than a goal.Jake Stockham is vice president of the new Reverse Mortgage Lending office of Firstar Bank. The bank is the 25th-largest reverse mortgage lender in the United States. Stockham has 14 years experience in helping create reverse mortgage loans.Copyright: ___ (c)2014 Tulsa World (Tulsa, Okla.) Visit Tulsa World (Tulsa, Okla.) at .tulsaworld.com Distributed by MCT Information Services倉