The Many Uses of a Reverse Mortgage
The Many Uses of a Reverse Mortgage by Bob Tranchell
Most people think of a Reverse Mortgage as a last resort or for those who are “house rich and cash poor.” This line of reasoning can be a tremendous disservice to those who might benefit from the many uses a Reverse Mortgage allows.
The Reverse Mortgage was initially created to service seniors who are struggling financially and want to remain in their home. The funds can be released in three different ways giving tremendous flexibility offering; a monthly check, cash at closing or a line of credit. These options have been utilized by hundreds of thousands seniors with a satisfaction rate in the 90s.
If we take a second look at what the Reverse Mortgage offers there is a world of options that seniors from all economic standings can utilize. Here is a quick list of ideas and actual examples. Click on the title to get the details.
Fund for long term care and life insurance.
Use as a Hedge against market volatility.
Delay taking social security benefits.
Upsize your home with liquidity.
Downsize your home with liquidity.
Buy a second home.
Overcome concerns with an age difference.
Prolong a portfolio’s assets.
Bridge Loan
Most people think of a Reverse Mortgage as a last resort or for those who are “house rich and cash poor.” This line of reasoning can be a tremendous disservice to those who might benefit from the many uses a Reverse Mortgage allows.
The Reverse Mortgage was initially created to service seniors who are struggling financially and want to remain in their home. The funds can be released in three different ways giving tremendous flexibility offering; a monthly check, cash at closing or a line of credit. These options have been utilized by hundreds of thousands seniors with a satisfaction rate in the 90s.
If we take a second look at what the Reverse Mortgage offers there is a world of options that seniors from all economic standings can utilize. Here is a quick list of ideas and actual examples. Click on the title to get the details.
Fund for long term care and life insurance.
Use as a Hedge against market volatility.
Delay taking social security benefits.
Upsize your home with liquidity.
Downsize your home with liquidity.
Buy a second home.
Overcome concerns with an age difference.
Prolong a portfolio’s assets.
Bridge Loan
Call me or email with any questions or to see how a Reverse Mortgage might be the right product for you or one of your clients!
1-800-497-5235
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