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Reverse Mortgages; the purchase money mortgage for seniors

By
Mortgage and Lending with Christensen Financial Mortgage 385907

here's a question that I get a lot.

can you use a reverse mortgage to purchase a home?

 

two pieces of information to consider before evaluating why this question is sooooo important

 

over 10,000 people are turning 62 every day...that's every day folks!

1/3 of the population will be 65 years old or older by 2020. That's just around the corner.

 

so back to the question. the answer is

 

YES...ABSOLUTELY...UH-HUH

 

in fact a reverse mortgage will help many/most seniors qualify for the home that they want when traditional programs fail.

why Jay, you may ask? well let me give you two important reasons.

 

First;

many seniors starting their retirement years, or planning for them are facing reduced income. They no longer qualify for the tradional mortgages that they have grown accustomed to. they need an alternative.

 

Second;

 

while they may have accumulated assets, that doesn't mean that they want to liquidate them to by a home.

 

also, another point that i'll throw in for free is that payments are optional. this gives them the option to increase and control their monthly income.

 

look i could go on with one reason after another, but I have to tell you that a reverse mortgage will offer a senior more options to responsibly utilize their assets when buying a home than any other program, and the program is

 

exclusively for seniors, those being 62 and older in this case.

 

finally no matter what, don't forget...

 

SENIORS ROCK!

 

 

Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good morning 

Thank you for sharing your information with us 

Have a great day.

10/08/2018.  

Oct 08, 2018 06:06 AM
Jay Beckingham
Christensen Financial Mortgage - Port St Lucie, FL
Seniors ROCK!

you're welcome...fyi; you have an excellent Reverse Mortgage Planner in Atlanta named Genie McGee. feel free to reach out to her if you need any assistance @ 404-388-1885.

Oct 08, 2018 07:51 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Jay- The only thing I know about reverse mortgages is from the actor I see on tv talking about them. I'll bet there are many seniors like myself who know little about them!

Oct 08, 2018 04:43 PM
Jay Beckingham
Christensen Financial Mortgage - Port St Lucie, FL
Seniors ROCK!

I'm sure that you are right. the "new" reverse mortgage is a very dynamic program with multiple opportunities. there are also not many knowledgable Planners either, and I'm sure Tom Selleck is just reading from a script. if you would like to learn more we can set up an appointment and chat for a bit. i also have some quality literature.

Oct 09, 2018 03:51 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Jay.  Those interested in reverse mortgages should contact professionals and have them assist as to whether it's the right move for them.

Oct 09, 2018 04:47 AM