I am very passionate about Reverse Mortgages and how it can help people live a more comfortable retirement. This all started many years ago when I was doing my own retirement planning and was researching products that would give me a guaranteed income since I wouldn't have a company pension. I did not want my retirement income to be subject to market forces possibly creating an income shortage later in my life when I couldn't go back to work.
There were two products I came across that can provide a guaranteed income. The first one is an annuity which can guarantee income for life and the other is a Reverse Mortgage that can guarantee income for as long as you live in your home.
In order to do an annuity, you must have money in the bank to then convert to annuitized income. With a Reverse Mortgage, the simple act of paying your mortgage payment every month creates that savings account you can tap later on in life via a Reverse Mortgage. In years past, homes used to be valued low enough that no one really considered it much of an asset other than a place to live, but now that homes are valued at more than $500,000 in most places, it has become a major asset that can be used to make lives better. Sometimes the simple act of eliminating an existing mortgage payment can ease up the budget to make things more comfortable and able to sustain inflation a little better.
As a Reverse Mortgage Loan Officer, I help people over the age of 62 prepare for retirement or live better in their retirement. If you would like to see how this program may work for you or someone you know, call me at 801-792-1257 for a free no obligation proposal.