A Reverse Mortgage Success Story

Sat, 12 Aug 2023 22:23:09 GMT

The Benefits of A Reverse Mortgage After Death of A Loved One

Jean lives in the sunny landscape of Los Angeles and loves her beautiful views of the valley. She knows that the home values are pretty good up there but her house could use some upgrades. Gone are the days of her two daughters running up and down the stairs getting ready for the summer fun. Now they are replaced by the new sounds of her grandchildren doing the same.

She is 76 and widowed and a little strapped for cash, especially after the death of her husband. See when her husband passed away she lost his social security payment and now only receives half of his pension installment. She now is a member of the “hard to live on less” group that finds themselves in this position almost overnight. Your bills don’t go down or go away when you are stuck in this situation, they usually grow worse. There is no handbook training guide on how to survive now, you just do.

After a short exchange of information and finding out that she wanted which was new carpet and cabinets, I showed her what I could do for her. Jean was able to set aside $250,000 in a Line of Credit and take out $65,000 in cash out at closing for her new additions. Obviously, once she found out how much money she could get, her wish list grew a little and now we had enough to take care of the painting of the entire home and buy that new Corolla she always wanted. She could go on trips with her daughters and didn’t have to tell white lies about being too tired to go or didn’t have the time.

The Reverse Mortgage is a lifesaver. It can provide to you what no other loan can and change your whole outlook on life. It can clear away the financial stress and depression that creeps into your life after a death and reduced income. It can improve and secure your future and allow you to help yourself and to help others as well. There is an incredible part of you that wants to take on the next challenge of life, now give yourself every chance to succeed.

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The post How a HECM Reverse Mortgage Saved a Homeowner Over $200,000 appeared first on Modern Reverse Mortgage .

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The post The Single Best Tool for Downsizing in Retirement: It’s Called HECM For Purchase appeared first on Orange County Reverse Mortgage .

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The post Counting on Working Past 65 is Statistically Being Overconfident appeared first on California Reverse Mortgage Company .

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The post The Media Continues to Get it Wrong on Reverse Mortgages appeared first on Modern Reverse Mortgage .

Retirement Solutions: How & Why I Fell in Love with the California Reverse Mortgage

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The post Retirement Solutions: How & Why I Fell in Love with the Reverse Mortgage appeared first on Modern Reverse Mortgage .