Understanding Reverse Mortgages
by Beth Paterson, Certified Reverse Mortgage Professional (CRMP)
- Do you know what a Reverse Mortgage is?
- Have you heard the myth that you lose your home with a Reverse Mortgage?
- Do you believe the myth that the only time to do a Reverse Mortgage is when you are cash poor and house rich?
- Would you like to know how others have used the equity in their home to strengthen their retirement years personally and financially?
- Would you like to know what are myths and what are the actual truths?
- Would you like to know the positives and negatives of a Reverse Mortgage?
Understanding Reverse Mortgages will answer the above questions dispelling the myths and providing you with the facts, along with the positives and negatives of Reverse Mortgages. Understanding Reverse Mortgages is written in a simple format, providing the necessary information and knowledge for you to comprehend the basics of Reverse Mortgages. The various examples, in addition to testimonies, from those who have done a Reverse Mortgage will help you realize the personal and financial benefits it has brought to many people and help you evaluate whether it may be an option for you.
I have been through many personal experiences and challenges where I learned there are many resources available. These led me to working with others faced with challenges in addition to working with seniors. After several years working with seniors and hearing about Reverse Mortgages, I decided to enter the Reverse Mortgage industry as my career. I wanted to be able to help seniors fulfill their dreams and stay in their homes and have the money to do so.
As I do with everything, when I entered the Reverse Mortgage industry in 1999, I wanted to learn everything there was about this unique product. Also, since I did not come from a mortgage, banking, or real estate background, I had to understand the new industry I was entering. This was for myself as well as to be able to help my clients. I read everything there was about Reverse Mortgages, including books and articles published in various publications. There was, and still is, a lot of information available about these unique loans to help seniors.
While talking with people I found many where overwhelmed with all the information. I too found it was overwhelming to try and figure out the complexities of the loan. Although some are interested in reading all the details, many just want the basics.
As a result I decided to write a book to simplify the information yet provide the necessary information to understand Reverse Mortgages and help one decide whether it is the appropriate option for their situation. Because we often learn from other’s experiences, I decided to provide examples of those who have benefited from their Reverse Mortgage. (The names have been changed to protect their privacy.)
Through my many years in the Reverse Mortgage industry I have helped hundreds of people understand and then benefit from having done a Reverse Mortgage. I treasure my clients and enjoy the cards, letters, and calls I received through the years after their closing. It is rewarding to me to hear how the Reverse Mortgage has changed their life for the better.
With my years in the industry and experiences in working with clients, I have become known as an expert in Reverse Mortgages. At one point I thought I had come across every possible scenario with the Reverse Mortgage. How wrong I was. Every loan brings something new to learn. So I continue to learn and my knowledge continues to expand. I stay abreast of what is happening so I can continue helping people understand Reverse Mortgages.
In addition to Reverse Mortgages, I continue to keep informed of other services and resources that may assist seniors. With revisions of this book, through seminars, meeting with clients, their families and advisors, I will continue to share my expanded knowledge with you.
You Hold The Key!
Minnesota Residents Call Us to learn how to receive a FREE copy of the reverse mortgage guide, Understanding Reverse Mortgages, a book written in a simple format, providing the necessary information and knowledge to comprehend the basics of Reverse Mortgages.
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