We received a call the other day from the daughter of a reverse mortgage client who we had closed several years ago. Her mother, Mildred, had been in foreclosure, in fact in this situation the sheriff’s sale had already happened.
Because credit scores and income are not required to qualify for a reverse mortgage and there were enough funds to pay off the mortgage, Mildred qualified for the reverse mortgage and we were able to save her home from foreclosure and redeem it from the sheriff’s sale. With no monthly mortgage payments the reverse mortgage has allowed Mildred to live in her home with improved cash flow.
As she has done through the years, Mildred’s daughter was calling just to say, “hello.” During the calls she always let us know how her mother is doing and what’s happening in her life as well. She reported that her mother is happy that she is still able to be living in her home. She’s doing well and now goes to adult day services to provide her some socialization.
It’s a pleasure to get these calls and hear how our clients are doing. I’m in the reverse mortgage industry because I am able to make a difference in one’s life so they can remain in their home as they so choose. It’s an honor to have our clients and their family members call to just say “hello” and let us know how they are doing. Even years after the closing it’s rewarding to hear we have made a difference in their life. I’m blessed to be in the reverse mortgage industry and help our Minnesota seniors and their families.
© 2011-2015 Beth Paterson, CRMP, Beth’s Reverse Mortgage Blog, 651-762-9648
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