Archive for March 2007

Why would the wealthy do a Reverse Mortgage?

March 29, 2007

This is a great question as most people would see reverse mortgages as a way for those who have no assets (except their house), but need additional income. However, I have had a couple of examples when a client has many other assets, but would rather do a reverse mortgage than to liquidate the assets.

Here’s the typical scenario: A husband and wife are comfortable living in their home and would like to continue to live there in the future. However, one spouse becomes ill, and their illness gets to a point where they will need to either get home care, or, at some point, need to be transferred to a specialized institution for medical assistance. They can choose to liquidate stock, mutual funds, or sell a property in order to finance this expense. However, this triggers some tax implications they are not in favor of. So, as a way to establish a growing line of credit and access cash without any tax implications, the reverse mortgage has become a valuable tool.

Though this is an example of how others have used reverse mortgages, I always encourage my clients to visit with a professional financial advisor and a Reverse Mortgage Specialist like myself, to assist them with identifying the best plan of action. Feel free to contact me if you would like a good referral for a financial advisor that can help you in your unique situation.


Hello world!

March 26, 2007

I am excited to get started with this Blog. Hopefully, it will provide my readers with information about the reverse mortgage world, but also catch a glimpse about who I am as a person, and as an advocate for retirees who want to live in their home for as long as possible.

It is my intention that you, my readers, will be able to see how different people use reverse mortgages as a financial tool. As in most products, whether it be financial or not, one product does meet the needs of everyone. We all have different goals and dreams. However, I do believe that learning about reverse mortgages IS for everyone. It is a tool that just might change the life of a family member or a friend.

In today’s world of seemingly chaos on many fronts, it is my goal to assist retirees in their “peace of mind.” For living with a peace-of-mind (especially financial) allows one to live out their Golden Years in Golden Ways.

I invite you to join me in this journey! If you have any specific questions that you would like me to respond, please feel free to email me at I would be happy to either respond to it in a blog entry, or email you directly.