Category Archives: Own Your Future Minnesota

Savvy Senior Sources…Talking With Experts TV Show Released

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I’m excited to announce the release the new TV show, Savvy Senior Sources…Talking With Experts that I host and produce.  The series of TV shows talk with experts for guiding your way through resources A to V in areas that seniors, their families, caregivers, and trusted advisors will find helpful for planning, aging in place with the ability to stay in their homes and remain independent or where to turn if and when going through the transition. The shows give viewers the opportunity to “meet” the trusted providers of senior services before making a phone call to them.

Brought to you from Savvy Senior Sources, LLC, Reverse Mortgages SIDAC and GWG Life, LLC are proud sponsors of the shows.

Please tune in and subscribe to the YouTube Channel Savvy Senior Sources to be notified when the new shows are broadcast. https://www.youtube.com/channel/UCmgVGVbfY6-RcHkeBc7WmPQ/feed

Enjoy the shows!

© 2015 Beth Paterson, CRMP, Beth’s Reverse Mortgage Blog, 651-762-9648

Blog posts’ information is current as of date post published, program is subject to change in in the future. Contact us for current information, 651-762-9648.

This site or the information provided is not from, or approved by, HUD, FHA, or any US Government or Agency.

Do You Go To A Plumber For Health Issues? Then Why Would You Receive Advice on Reverse Mortgages From A Politician?

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Do you go to a plumber for health issues?In a conversation with a woman the other day when I told her I specialize in reverse mortgages she said, “I’ve talked with a Minnesota politician who said people shouldn’t do a reverse mortgage.”  So I asked her the question, “Do you go to a plumber for your health problems?”  “Of course not!” was her adamant reply.  No we don’t, when we have health issues we go to the health professional who specializes in the area of our problem such as cancer or heart.

I went on to explain to this woman that I know the politician she had talked with and I too have had conversations with them.  Their concern is that one should have an understanding of the reverse mortgage, the terms and details, not that one shouldn’t do one.  In addition I pointed out that the state of Minnesota in their Own Your Future campaign is suggesting people consider reverse mortgages as a way to pay for their long-term care.   Additionally I explained that because the politicians don’t specialize in reverse mortgages they can’t provide all the details and facts about them.  Her response was, “Ohhhhh, I see.”

Everyone has their area of specialty, the doctor, the attorney, the politician; mine is reverse mortgages.  I can’t advise you on health, legal issues or laws in areas I am unfamiliar, don’t specialize or am not licensed.  Just because I grocery shop doesn’t make me a specialist in groceries or the grocery store.

After getting the facts, a reverse mortgage is right for LindaBefore deciding that a reverse mortgage shouldn’t be done based on the comment or opinion of a politician, media, friend or relative talk with a reverse mortgage specialist to get the facts and decide whether a reverse mortgage may be right for your circumstances.  One who specializes in reverse mortgages can provide details and calculations for your personal situation.  Invite your family or other trusted advisors to be involved in the informational meeting so they also receive the facts and details.  You can then have a discussion and trust that you are making an informed decision.

Linda did just that, she talked with her financial advisor and with me and has decided that a FHA HUD Home Equity Conversion Mortgage (HECM) reverse mortgage is right for her situation.  Doing one to eliminate her current mortgage payments and improve her cash flow (she doesn’t have to make mortgage payments with her reverse mortgage), she feels the relief from stress on figuring out how she would be able to continue to make her mortgage payments.

Do you go to the plumber for your health issues?  Then why go to a politician for reverse mortgage details and facts? Explore the related stories linked below and through out this blog; learn how reverse mortgages have made a difference in the lives of those who received the facts and understood the details.

©2012 Beth Paterson, Beth’s Reverse Mortgage Blog, 651-762-9648

This material may be re-posted provided it is re-posted in its entirety without modifications and includes the contact information, copyright information and the following link:  http://wp.me/p4EUZQ-YT

Related articles:

Blog posts’ information is current as of date post published, program is subject to change in in the future. Contact us for current information, 651-762-9648.

This site or the information provided is not from, or approved by, HUD, FHA, or any US Government or Agency.

“Own Your Future Minnesota” Campaign Launched – How are you personally preparing for your long-term care needs?

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Own Your Future MinnesotaThe Own Your Future Minnesota campaign is part of a national educational campaign of the U.S. Department of Health and Human Services that promotes personal preparation for long-term care.  The campaign is to bring awareness as well as urge Minnesotans of the need to plan for their later years when they are likely to need long-term care.

Own Your Future is important to Minnesota!  Between 2010 and 2030 Minnesotans over age 65 will grow by 107%. Those over 65 have a 70% chance of needing long-term care.  In 2030 over 325,000 elderly would need to be served if Medicaid (Medical Assistance) had to serve all with insufficient income. This could cost $5 Billion by 2030.  Because of the enormous growth in the aging population and the number without resources, Medicaid will be strained to provide support for all these individuals.

Own Your Future Minnesota is encouraging people to have discussions, and be aware of options to pay for their long-term care including considering personal savings, long-term care insurance, life insurance options, annuities, and using ones home equity including reverse mortgages.  Additionally they are encouraging people to discuss and plan their advance care which refers to their legal documents.

With the October 2nd launch, Governor Mark Dayton and Lieutenant Governor Yvonne Prettner Solon are urging all Minnesotans age 40 to 65 to own their future by mailing a letter to them.

“Planning for long-term care helps to ensure choice, control and peace of mind for the individual,” said Lt. Gov. Yvonne Prettner Solon. “The sense of security and comfort that comes with having a plan is something all Minnesotans should enjoy.”

The first phase of Minnesota’s Own Your Future initiative includes a new website, public service announcements, internet advertising, community meetings and other employer and grassroots organizations.  The website offers options for planning at various ages, tools for your planning covering your personal, financial, housing and advance care planning, as well individual’s stories.

Future phases of Own Your Future will look at development of affordable financial products to help people pay for long-term care and evaluation of possible changes to Medicaid to better align with and encourage private payment for long-term care.

As a member of the Advisory Panel, and on the speakers bureau, through the coming year I will be doing presentations around the Twin Cities to bring clarity on what is long-term care, the impact it has on individuals and their families, why plan ahead along with options and resources to consider.

I’m proud and excited to be part of this important state initiative as the reverse mortgage industry representative.

©2012 Beth Paterson, Beth’s Reverse Mortgage Blog, 651-762-9648

This material may be re-posted provided it is re-posted in its entirety without modifications and includes the contact information, copyright information and the following link: http://wp.me/p4EUZQ-YS

Related articles:

Blog posts’ information is current as of date post published, program is subject to change in in the future. Contact us for current information, 651-762-9648.

This site or the information provided is not from, or approved by, HUD, FHA, or any US Government or Agency.