The article written by Jane Bryant Quinn that you can access through the link below was sent in an earlier edition of this newsletter. But all of us who work with seniors should keep this in mind, so here it is again.
A reverse mortgage is not just a tool to ease current financial stress. It can certainly do that when suitably and responsibly applied. But the value of a “standby reverse” as I call it is generally overlooked.
In over 30 years of applying financial solutions for clients of all ages, I have never encountered anything like it. This program might easily be dismissed as too good to be true. It is not! This article was written prior to the October 1 changes, so check with me for accurate numbers in any given scenario. Suffice to say that it still works like a charm! Over 90% of my clients have employed this amazing plan.
There is a great deal more to reverse mortgages than simply plopping a large sum of cash into an elderly American’s bank account. My goal is to create the smallest mortgage possible and the largest growing line of credit possible. That can be done for so many people!
I have a great deal more evidence that the standby reverse is a sound solution. Contact me for more info or a Lunch and Learn at your office. http://janebryantquinn.com/2013/08/a-great-reverse-mortgage-idea-take-a-credit-line-now/