A First Time for Everything; Refinancing a Reverse Mortgage

Last Updated 7/13/2022

How ones history can make a difference in a whole demographic; a story of 'Firsts'

Welcome!

As I break into my first blog post, I want to start off my thanking you for the visit! I'll be using this platform be to going over tips, tricks, experiences and benefits to working with Mortgage Loan Advisors, and how my expertise, working with me as your trusted and knowledgeable mortgage professional.

What I'd like to break into for my first post is the world of reserve mortgages! I'll start off by sharing some strong take-aways when starting down this path.

1.Reverse mortgages give older homeowners a source of income based on their home equity.

2.Typically, lenders take the home to repay the loan balance once the homeowners move out or die.

3.The amount of money you’ll receive depends on your age, home equity amount, and market interest rates.

4.The reverse mortgage industry is rife with scammers, so it’s important to do your due diligence.

Keeping these pros in line with my work ethic, helped keep me focused when helping out my long time customer. In my bank days, this client and I were able to build a trusting relationship. This particular customer, turned client, really trusted my knowledge when it came time to make a decision about her reverse mortgage because of our history.

When choosing me as a Reverse Mortgage Advisor, she shared with me how simple it should be since she trusted my work before, and could only see it being an improvement over the last 10 years. Her priority was to be seen as an investor in her space and in this work, this demographic, it can be hard to trust certain organizations due to the risk potential.

Working with this client not only was a benefit because of our history, but we were able to do something I had no idea we could do, which was refinancing her reverse mortgage! This service is huge, not only for her, but everyone that could benefit in this demographic. Historically, reverse mortgages are for those who have purchased with sometime on their equity, as well as In our ever changing market , with interest rates at an all time high. Longer purchase history can potentially mean bigger payouts!

Connect with me today to see if a reverse mortgage is on your horizon. Find out your payout and its benefits!