Kevin's Corner

You Got to Get the Facts

I want to thank all of my faithful readers for stopping by at my booth at the Senior Scoop/Plus Fifty Senior Expo in Toms River.  The attendance was great with over 2,200 attendees. I personally gave away over 8 pounds of Tootsie Rolls!! But, as always happens at these events, I still meet many people who have heard about reverse mortgages but really do not understand how they work. In fact, they often have misinformation, which leads them to believe that reverse mortgages are bad for people.

I personally have hundreds of past customers that would disagree. For example, some people still believe that you lose control of your home and the ‘bank’ owns it. This piece of misinformation is absolutely untrue. You never lose control of your home, a reverse mortgage works the same as any other mortgage, the lender puts a lien on your home until the loan is repaid. What is different about reverse mortgages is that you get to determine when the loan is repaid. You get to live in your home until either the home is sold, the last homeowner passes away, or you permanently live somewhere else.

I hope that if you have any interest in how a reverse mortgage really works that you contact an expert in the field and don’t rely on a neighbor’s opinion or a friend’s uninformed viewpoint. If you contact me, I will gladly provided you with the information necessary to make an informed decision. Today, we have multiple products to offer, some have lower interest charges with higher closing costs, some offer higher interest charges with lower closing fees. Some are US Government guaranteed, some are not. You have to get the facts! Working with an experienced reverse mortgage specialist, like myself, is a very important step to make sure you understand if this product is an appropriate retirement tool.

I hope everybody saw the front page of the Asbury Park Press on Sunday, August 13^th . One of the lead stories was about a 90 year old man from Lakewood who has lived in his home for over 80 years and was having trouble making his increased property tax payments. Mr. Aufiero became the “Poster Child” for a reverse mortgage! If his home is worth $350,000 like the article claims, he could access over $200,000 of equity through an FHA Home Equity Conversion Mortgage. Not only could he easily pay his property taxes but he could easily increase his cash flow and improve his overall quality of life.

I hope that if you are in his circumstances or you know someone who is, that you avail yourself of a reverse mortgage. Why shouldn’t you use the built up equity in your home to good use while you can? Is it logical to leave this valuable resource untapped while you struggle to meet the challenges of everyday living expenses? Reverse mortgages are not some type of “voodoo” financing, they a proven, safe method to help homeowners 62 or older use the equity of their home to finance their retirement.

If you want the experience of the Shore’s leading reverse mortgage banker, the service of being treated special and important, than give me a call and ask for my free information package about reverse mortgages. I also will be happy to meet with you in the privacy of your own home or in our dedicated reverse mortgage center in Belmar, NJ. The important thing is call, get the facts and make your own decision. It all starts with a phone call……1-800-496-4035. Talk to you soon!