One way to be able to enjoy “The Golden Years” has many seniors reaching for their phones. Reverse mortgages continue to grow in popularity, as seniors and their families find the use of it can be an advantage for all involved. Once the reverse mortgage details are understood, family members are relieved and happy to know that their parents have a solution to help them live more independently and financially secure, in their retirement years.
Qualifying is surprisingly easy in a reverse mortgage. To qualify, a borrower must be 62 years old, and there must be sufficient equity in the home. No credit or income is needed to qualify!
What Reverse Mortgage Clients Say
We got in touch with Marie Bjornson after receiving her mailing, she was the only one who called us back.
We were at a critical point in our lives. We had lost about 2/3 of our income, and had become behind on our mortgage payments, property taxes, and car pmt. We were about 4 months from "the streets".
Marie looked into seeing what could be done and got the ball rolling for our reverse mortgage. She was on top of everything, talked to the different people that we needed; kept us up to date, was always there if we had any question, explained every thing well. Marie went way beyond what you would expect an agent to do. She pulled out all the stops. Marie is the kind of person that you would want to do business with again, and recommend to everyone.
She reminds us of the kind person that people used to do business with about 50 or 60 years ago, that was local, and not this big corporation.
Now we are done and many thanks to Marie!
-Lloyd and Virginia M.
I could feel their vast experience with the finance process. I felt like I was putting my life in their hands, and it turned out to be the right choice! I will remember them as my dream team!
Retired, Bellingham, WA
Aside from helping us with reviewing our financial picture and making excellent suggestions, Marie showed us that she takes her job of helping people very seriously.
She was helpful, not pushy, caring and patient. Marie is good at taking, what seemed to us to be a complicated process, explaining it in simple terms, and making it a pleasurable, relaxed experience. I now count Marie, as not only my Mortgage Advisor, but also a friend that I would not hesitate to do business with again, and refer my friends and family.
Original Article by Jamie Hopkins published in Forbes Personal Finance blog, on May 18th, 2015 Owning a home has always been part of the American Dream. Therefore it should be no surprise that home equity represents a large portion of the average retiree’s net worthaccording to the Consumer Financial Protection Bureau statistics. Now, as many Americans near retirement,…
Original Article by Michael Kitces, on September 18th, 2013 While the current low-yield environment has presented significant challenges to retirees trying to generate retirement income, the upside is that low yields have also driven down borrowing costs to record lows. As a result, retirees are increasingly deciding that perhaps keeping a mortgage and not paying it…
“The Equity is used up and my children & grandchildren will lose out.” In contrast, by doing a reverse mortgage, in most cases, the home will be kept for a longer period of time. This will usually result in more equity increase, hence more value for the home. For example, using a 5-7% conservative appreciate…
More people are becoming concerned that their benefits will not last, due to the looming Social Security crisis; you can definitely understand the stress level of the 41 million people, who are now aged 50 to 60. There is a genuine concern over whether or not they have saved and invested enough money to retire.…
Now you can stop a foreclosure with a Reverse Mortgage, which is not hard money or balloon loan that someone is normally pressured to get, when facing a foreclosure. A reverse mortgage can serve as a lifeline that saves one who is in danger of losing their home to foreclosure in the case of seniors…
Marie Bjornson, CPA, Reverse Mortgage Advisor Reverse mortgages are often advertised to seniors as a way to use the equity in their homes to increase their standard of living. Is this understandable? Under what conditions? What would happen if one person needed to move into a nursing home? Why don’t we have a look? A…