Kevin's Corner

Life is Too Sweet and Dear to Waste

Will reverse mortgages be just as popular as conventional mortgages? If you ask that question to two of the highest ranking US housing officials – the FHA Commissioner and the President of GINNIE MAE – the answer would be - yes! And, sooner than you think.

Both of these officials made presentations at the most recent annual conference of the reverse mortgage industry and both could not contain their excitement about the growth of the reverse mortgage industry and the tremendous growth expected over the next several decades.

They believe it can’t happen fast enough. Americans 65 and older now total about 34 million. That number is expected to double in the next 20 years to 70 million by the year 2030. However, about half of working households believe they are in danger of having too little income to fund their retirement needs.

Older Americans are struggling to live at home at a time when they own more than $2 trillion in untapped home equity. Nearly 80 percent of Americans over 65 own their own home.

Many older Americans have accumulated substantial amounts of home equity, including families whose other retirement resources are very modest. An AARP study found that roughly half of people 65 and over have more than 50% of their net worth tied up in the equity of their home.

Robert Couch, President of Ginnie Mae, reminded the conference that with so much wealth tied in the home, the ability to convert equity into cash could significantly increase the retirement funds available to seniors, helping them enjoy a better quality of life.

Both his remarks and FHA Commissioner Brian Montgomery’s remarks show that reverse mortgages have caught on and the benefits of having a reverse mortgage significantly outweigh the risks and costs of getting one.

For someone like me who has been in this industry long enough to remember when no one ever heard of a reverse mortgage, these statements by the Government Housing Heavyweights certainly ratifies what I have believed since the beginning – you owe it to yourself to find out how this innovative retirement product can help you increase or maintain your quality of life in retirement.

Reverse mortgages will be as common as conventional mortgages and the wheels have been set in motion to make it happen. Don’t be left out. Get the facts. I have helped hundreds of Monmouth, Ocean and Middlesex residents enjoy the benefits of a reverse mortgage. I will personally sit down with you and go over the pros and cons of how these programs would work for you. Every one’s reverse mortgage is tailored to their individual needs. It is very important to work with an experienced, understanding and competent reverse mortgage specialist. Just ask how many mortgages they have done, it is public record. I’ll be happy to go over my credentials.

Call me today at 1-866-552-7853 for your free, no obligation consultation at your home or in my office or to receive my complimentary benefit analysis and information kit. You have nothing to loose and everything to gain. Remember, life is too sweet and dear to waste.

Look forward to hearing from you soon.

Senior Security Capital