I often wonder why is there so much negativity surrounding reverse mortgages and I feel the answers are rooted in deep seated beliefs, such as the leaving a free and clear home to the children and decades of mis-information on the FHA insured HECM loan. In addition, there seems to be an avoidance in pursuing solutions to improve financial situations and secure a comfortable retirement. Of course, keeping status quo and not taking action is easy.... you don't have to do anything! And it's easy to revert to those familiar negative and sometimes inaccurate beliefs about reverse mortgages that sound like good excuses. But you become your own worst enemy and not a advocate for yourself which is what you should be, no one will do it for you. So if you don't improve your financial situation, and your sitting in a house loaded with equity, well.... that's your decision and that is the lifestyle that you choose.
If you are leaning towards living more comfortably, not worrying about money with a continous increasing line of credit, getting rid of mortgage payments, being able to help your children and grandchildren, travel.... you name it.... it's important to take the steps necessary to learn about reverse mortgages and evaluate them based on your personal priorities. Do you want to use your equity to enrich your life or leave the home as a legacy?
We are fortunate to have a functional tool available that provides easy access to home equity during retirement and it certainly deserves a thorough evaluation. The standby line of credit option provides comfort in knowing funds are available if and when you need it. This is your opportunity.... at a very minimum.... consider it. It's an opportunity to live a more comfortable life and easing the financial load. I am ready and willing to guide you through the education and evaluation process and should you decide to move forward, I will work with you every step of the way. That is my promise to you.
Maggie O'Connell (800) 489-0986