Based on years of reverse mortgage borrowers, the
following are typical situations that have been
solved by the use of a reverse mortgage. As you read this, see if you identify with these people. If so, a
reverse mortgage maybe your answer also..
A single (widowed) woman, age 72. Her deceased husband gone now 2 years. He was her everything, you
see he took care of her and she took care of him. She cooked
and cleaned while he worked and took care of all the bills.
Since he’s been gone she done the best she could, with what
she has. Unfortunately they were on that fixed income and now with less income from social security, well, things are
tight.. The bills are the same or more but with less income. She called
us: now has enough income and a lot less stress in her life.
A married couple in the mid 60s, wishing they could
retire. Both of them have worked feverishly while raising 3 children
and putting
them through college. It’s true that over the years the equity in their home
increased dramatically, but so did the cost of education. Their question is when
and how can they retire, the value of the home is $250,000 with an outstanding
balance of $90,000. The reverse mortgage eliminated their monthly mortgage
payment. Retirement won’t have to wait..
Children of a senior couple, trying desperately to
resolve a home health care giver expense. The challenge was for
everyone to get on the same page. Some of the children were financially set and others were struggling with
their own family expenses. Some of the children were able to
contribute to the parents expenses and some could not, creating
great conflict. The parents resolved to let the home pay for
the health care and therefore eliminate potential conflict.
The reverse mortgage is not an answer to all problems, it
can answer some of basic needs of many seniors today, from home repair, the replacement of an old car, to the
vacation never taken.
You’ve paid for years on your home, now let you home pay
you!!
Please call us if we can be any assistance.
1-800-343-7611