Why Should You Decide Now?

I just spoke with a woman who has been considering a Reverse Mortgage since last September.  During that time, she has wavered and her wavering has not worked in her favor.

She lost her job suddenly, has a disabled son and a daughter who has medical problems, and she could certainly use the money from her home.

But, her friends and family, well meaning, have told her NOT to get a Reverse Mortage.  They have read about the scams attached to Reverse Mortgages, and are also still operating under the myths that you can lose your home, or all your equity.

Sadly, she keeps cancelling appointments with me so I cannot show her facts and help her change her circumstances.  Recently, her daughter’s car was stolen and I wonder if she had adequate car insurance.

So what has it cost her to wait?  LOTS!  First, her home has declined in value since September by more than $23,000.00.  That means the money she can access from a Reverse Mortgage is reduced quite a bit. 

What else has it cost her?  The interest rates have CLIMBED while her EQUITY HAS DECLINED.  So not only can she get LESS money, it will COST HER MORE to do it.

If she’d only decided last September, she could have accessed more equity at a very favorable rate and just let that money sit in the credit line until she needed it.  Like when she lost her job.

I understand how fearful people are about their homes and their equity.  The media certainly isn’t helping with all their stories of gloom and doom.  But I’ve been in the mortgage industry for more than 30 years, I’ve seen the cycles, and I’ve also seen the fraud.

The pockets of fraud do NOT represent the majority the mortgage business.  But, like bad news, it gets more media attention than the positive stories that have been made possible through various mortgage programs.

So, if you or someone you love is “sitting on the fence,”  encourage them to make an appointment with a qualified mortgage representative (I am one), and GET THE FACTS.  Property values are still going down and rates are still fluctuating.

IT COSTS NOTHING TO GET THE FACTS — IT CAN COST QUITE A LOT TO SIT ON THE FENCE.

Email me at:  reversebymontana@aol.com – Or call,               561 860 3860