Is a Reverse Mortgage Right for You?
post by Sam Collins
Daily I am asked the question, “Should I do a reverse mortgage, and if so, is it the right thing for me ?”
My answer is not always what my clients want to hear, because quite frankly there is no one answer. Why? Because everyone is different. Yes, we all have different wants and needs. We could put 10 clients in a room and I guarantee you we would have 10 different perceptions of what they want and need. This is good, because if we were all the same then life would be very boring for us all.
If you follow these steps, you will be able to answer, if a reverse mortgage is right for you?:
1. Be sure to read the facts about reverse mortgages, (this web site will tell you a lot)
2. Learn the truth, don’t accept hearsay.
3. Request information from a trusted reverse mortgage professional. If you are not comfortable them, get someone else.
4. Do a budget to see where your money is going?
5. List all your assets to make sure you are currently using them properly.
6. Consult with an advocate or family member.
7. Ask yourself if you are going to be staying in your home for an extended period.
8. Is there a chance your finances might change soon?
9. Would it be better to sell or move to a smaller home?
10. Make sure the program you choose works for you.
These are just a few choices for consideration. You may think of others. If you have any further questions please let me know.
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For more information or to ask a question, you
can email by using the form at the top of this
page or contact me at the email below.
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If you want to see how much you qualify to receive,
you are welcome to use our Free reverse mortgage
calculator: http://www.seniorsrighttoknow.org/calculator.html
Sam Collins, President, Senior Advisor
Delaware Financial Capital Corp.
Licensed Mortgage Banker, DE, MD
Licensed by the PA Dept. of Banking
info@delawarefinancial.com
Tags: Advocate, Assets, Budget, Choices, Delaware, Family Member, Free Calculator, Mortgage Banker, myths, reverse mortgage calculator, Reverse Mortgages