Reverse Mortgage Success

When I talk about Reverse Mortgages, the common reaction is that people who would benefit from them don’t want one.  My response is that during my many years in the mortgage industry, no one has ever come to me wanting a mortgage. Goal Examples You want to live in a certain home, but don’t have […]

Improve Cash Flow With a Reverse Mortgage

Reverse mortgages can be used in many ways to increase cash flow for daily living. Following are some examples: A single lady came to us with about an $1100/month mortgage payment and about $1,300/month in Social Security income.  This income/outgo situation clearly could not result in a balanced budget.  She owed too much on the home to […]

When Reverse Mortgages Make Sense

A common situation where a Reverse Mortgage is helpful is when a person over 62 wants to move, but the equity in the old home is not adequate to pay cash for the new home.  Some recent examples: You may be able to move and not have to worry about having a mortgage payment A […]

Where does your mom want to live?  Where do you want her to live?

The background to these questions is that as we all age, our living arrangements often need to change.  The changes can be the result of employment changes, health changes, or death of a spouse. The employment changes typically come as a person reaches the end of their full time employment.  Health changes can be a […]