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Reverse Mortgages
I just had one of those wonderful situations where you see the twinkle in someone's eyes.  A financial planner partner of mine had referred me to an older couple, ages 78 and 82.  Last night we signed the paperwork for them to finalize their reverse mortgage. Let me set the stage for this, because it is a beautiful thing.
This couple paid their home off about 30 years ago They have been using a TV antenna for their TV stations for 40 years (not cable or satellite).  They literally only have 3 stations left They had a small mortgage on the home and some credit card debt They were using a home equity loan to pay for life's needs.  What did the reverse mortgage do for them?  It eliminated their mortgage payments and gave them a very substantial quality of life increase.  Before we were even done signing the gentleman's son made a comment about "Now dad can get a new TV and set up the DirecTV".  This guy worked his butt of and paid his house off 30 year ago.  And now I get to share in the joy of him getting rid of his 30-some year old- barely-working TV, and ... more

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