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There are many misconceptions and much mis-information being spread in the mortgage marketplace about Reverse Mortgages.But Used properly and fully explained, they can make a major difference in the retirement of many seniors that take advantage of the program. They are ultimately safe and will provide security and improve the financial picture of seniors and allow them to gain more freedom! Listen one of our recent radio interviews on reverse mortgages and how they may benefit you. Just click on the link "Reverse Mortgage Basics" Below to hear the interview! Now, Hear firsthand what some seniors have to say about their Reverse Mortgage experience: Reverse Mortgages are now one of the most heavily regulated programs by the Federal Government for the safety of our Senior Citizens. Find out the answers to some of the most often asked questions in this special report!
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Reverse Mortgages Can Make a Major difference in the lives of our Seniors: This case is a true story (The name has been changed to protectn client privacy): Margaret was an 83 year old widow of 10 yrs in good health who owned a home valued at $250,000. The original first mortgage had been long paid off. Her husband did not leave a retirement fund and she was living on social security income of $867 per month. A very tight budget, but by being very thrifty, she was able to just get by. However, her friends were having fun taking short trips overnight and going to special concerts and programs. Margaret was always invited, but never felt she could afford it. Her friends offerred to pay the bill sometimes, but she was very uncomfortable in accepting this. Margaret's daughter heard about reverse mortgages and invited a representative out to explain how the program worked. Margaret decided to go ahead and the transaction was completed. The results: Margaret opted for a combined benefit package & was able to pay off her $4600 in credit card debt, have funds available to do some maintenance on her home, AND best of all, will recieve an additional $823 per month for the rest of her life with NO payments! When her friends in church saw her the following Sunday she was a completly different person. She now had the freedom to go on trips with her friends and truly enjoy her life without worrying about money! |