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Seniors Find Hope and Opportunity With Reverse Mortgages

April 8, 2012

Seniors find hope and opportunity with reverse mortgagesIt’s the season of hope and new growth and opportunity.  Flowers are blooming, trees are budding, the grass is growing.  As with the season, seniors can find this hope, new growth and have new opportunities that they can remain in their home with security, independence, dignity and control.  And like the many types of flowers, buds and new growth, the variety of how the reverse mortgage funds are used and numerous, basically endless.  Here are some of the ways seniors have found hope and opportunity with their reverse mortgage.

  • Stay in one’s home where they may have raised their family, are familiar with the neighborhood and their neighbors and where they usually want to remain.
  • Pay off a current mortgage to eliminate the monthly mortgage payments.
  • Save one’s home when faced with foreclosure or tax forfeiture.
  • Have improved cash flow with no monthly mortgage payments.
  •  Have funds for making home improvements or home modifications.
  •  Retire and not feeling like you have to work just to have money to pay the bills.
  •  Have cash flow to be able to pay taxes.
  •  Have funds to pay for home health care.
  •  Have funds for some assistance with home care or companion services.
  •  Have funds for adult day services.
  •  Have funds for medical expenses and prescriptions.Seniors find hope and opportunity with reverse mortgages
  •  Afford going to the dentist.
  •  Afford new eye glasses.
  •  Have funds for the needed hearing aid.
  •  Have funds to cover long term care expenses.
  •  Cover everyday living expenses.
  •  Not rely on credit cards.
  •  Not rely on children.
  •  Have funds for the little extras in life, like:
    • getting one’s hair done,
    • having cable TV,
    • buying groceries,
    • going to lunch with friends,
    • treating their children to dinner,
    • going to community plays or the theater or a concert,
    • taking the grandchildren to the zoo or a movie,
    • Depends (I had a client say with their reverse mortgage they could now afford to buy Depends),
    • being able to do hobbies.
  • Purchase a more dependable car
  • Afford transportation if one can no longer drive.
  • Afford the travel for the family wedding or reunion.
  • Take the vacation they have dreamed of all their life.
  • Protect some of their other retirement funds or investments where there might be taxes or penalties on withdrawals.
  • Purchase a new home to downsize and/or  move closer to family
  • Have funds for emergencies.
  • Reduce financial stress.
  • Have funds to full fill needs and goals.
  • To live with security, independence, dignity and control.

Seniors find hope and opportunity with reverse mortgagesIt’s fulfilling to me to be able to help seniors find hope, growth, and opportunity with  reverse mortgage (visit the links below for some stories).  A reverse mortgage has given hope and opportunity to thousands of Minnesota seniors so they can remain in their home with security, independence, dignity and control even during trying times.  If you know a senior who is looking for hope and opportunity, a reverse mortgage may be their answer.

To determine if a reverse mortgage is right for one’s situation, talk with an experienced licensed reverse mortgage expert to get the facts.  Learn some of the facts at our website:  “What to Consider When Talking With Reverse Mortgage Lenders” will help you determine questions to ask when choosing your originator.

© 2012 Beth Paterson 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:

Related articles of stories on how seniors have used the reverse mortgage and how it’s made a difference in their lives:

15 Comments leave one →
  1. April 10, 2012 5:03 pm

    Hi Beth,
    I came across your excellent blog via linked in. I am a financial adviser and mortgage broker at Bribie Island north of Brisbane in Queensland Australia thinking of adding this service to my business offering because there are a lot of retirees in my area.
    I have found your writings to be thoughtful, measured and compassionate. Looking forward to reading your archived articles.
    Thanks Beth,
    Warm regards

    • April 10, 2012 5:27 pm

      Hi Paul,
      Thanks for stopping by and commenting! I’m glad you are enjoying my posts. Here in the US cross selling isn’t allowed between financial/insurance products and reverse mortgages… not sure how it’s regulated in Australia.

      Hope to some day make to that beautiful country of yours… it’s on my bucket list.
      Take care,


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  12. Reverse Mortgage Protects Retirement Plan | Minnesota Reverse Mortgages SIDAC
  13. You Don’t Need To Have A Mortgage To Do A Reverse Mortgage | Minnesota Reverse Mortgages SIDAC

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