It Simply Changes Peoples Lives

Yesterday I met with a couple that I had closed a reverse mortgage in 2005. They are a couple in their 80’s. They had chosen to use some of their funds for a variety of things, including paying off their mortgage. But what I found interesting was what they did with a portion of their money.  They have a daughter that has had a rough time, both physically and personally. She was in need, so they decided to use a portion of their money to payout an early inheritance to their daughter. They were overjoyed to be able to do that!

So I asked them . . . . “Since you took out your reverse mortgage, how has it worked for you?” Their response, “It has really changed our lives. It has provided us the ability to do some things that we otherwise would not have been able to do.”

This is not an unusual response. One of the first reverse mortgages I did was a single man whose family lives at different locations around the country. Just before setting up a time to officially sign the final documents, he had a few last questions in which I answered. But the last thing he said was, “You know, this seems too good to be true and it really is a ‘life changing event’!” Indeed it was, and a few months later this client traveled to Wisconsin to visit his children and grandchildren that he normally would not have been able to do.

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