For those seniors who feel it’s their money and want it now, a new reverse mortgage lender is hitting the market.
A notable television commercial for structured settlements has consumers yelling from their windows, “It’s my money and I want it now!”
The commercial is an advertisement for J.G. Wentworth.
The Radnor, Pa.-based company now can use its popular campaign for seniors who are homeowners.
In a news release Wednesday, J.G. Wentworth parent JGWPT said that it has officially launched a reverse mortgage division.
In the statement, privately held JGWPT said it acquired both J.G. Wentworth and Boynton Beach, Fla.-based Peachtree Financial Solutions.
The reverse business began as a pilot program at J.G. Wentworth a year ago and has now become one of Peachtree’s business lines.
“We decided to reaffirm our commitment to Peachtree’s Boynton Beach presence where it continues to be a significant employer of financial services experts and by establishing the new division there under the management of Peachtree’s COO, Alberto Cairo,” JGWPT Chief Executive Officer David Miller said in the announcement. “This decision means that Peachtree’s four existing divisions will be joined by a fifth.”
A national sales manager is expected to be hired for the reverse mortgage business.
