Gardner Historical Museum
The settlement of
Kansas and many states to the west
have long played a very important role in the history of reverse mortgages.
Welcome to the official website of Gardner Historical Museum of Reverse Mortgages. A museum dedicated to the preserving and exhibiting the history of American Reverse Mortgages. The Garner Historical museum of Reverse Mortgages is located in Kansas and is the first museum based solely on the history of reverse mortgages. Although Kansas is not the leading State when it comes to reverse mortgages, Kansas does have a fair number of reverse mortgage lenders.
Reverse mortgages had its root in Great Britain and from there traveled to other parts of Europe. Some years later reverse mortgages finally arrived in the United States. It went through a series of amendments and stages before it finally evolved into its present stage as the HECM loan. All through reverse mortgages in its various stages was aimed at providing loan and income options for seniors who were retired and on pension.
The museum has various exhibits depicting various forms and stages that reverse mortgage have gone through. Pictures of important personalities that contributed to reverse mortgage establishment adorn the walls and display stands of the museum. There are also important documents like the first ever reverse mortgage loan given.
For example there is a picture of Jack M Guttentag, from the Wharton School who did a technical monograph based on “Creating New Financial Instruments for the Aged” back in 1975. A replica of the monogram which contributed a lot the creation of reverse mortgages is also on display.
Another of our popular exhibits is the signed FHA reverse mortgage legislation. The document was signed in May 1988 by president Regan, then president of the US. Another prized exhibit is a copy of the very first reverse mortgage deal. The deal was made to Nellie Young, a widow by Deering savings and Loans, Portland far back in 1961.
The museum is done in simple and pleasant décor. The furnishings are tastefully done with the right lighting to present a relaxing and educative atmosphere. All our exhibits are well explained by descriptive texts placed by each exhibits. The Gardner Historical Museum of Reverse Mortgages as the name suggest is the best place to get and understand the history of reverse mortgages. (There is even a lender named after the museum, or maybe not)
"Reverse Mortgages Will Continue to Allow the Western Seniors to Retain their Homes"