Portfolios Sliding Create New Interest in Reverse Mortgages

I had recently posted an article about my visit with a weekly book club. They had asked me to join them for a Q&A on Reverse Mortgages. One members driving factor for considering a Reverse Mortgage was to find a way to save money with the falling stock market eating away at her investments.

I found a great article today in the Oregonian’s business section that was addressing this very issue. The article was titled “Reverse mortgages more appealing as portfolios slide”.

I was thinking how timely this was, as I was just discussing this couple weeks ago.
The article goes on to state how Reverse Mortgages have been growing fast in popularity for this very reason. As of this month, over 100,000 homeowners have taken out a reverse mortgage in 2008.

If you would like a copy of this news article, please let me know. I can email it to you or mail you an physical copy.

To find out if a Reverse Mortgage is right for you, please contact me today at BHusen@Sunsetmortgageco.com.

Book Clubs and 401k's

Recently a realtor I work with invited me to speak at a book club she has been a part of for many years.

“Speak about what?” I wondered at first as I have never been in a book club.

Turns out there were two seniors in this group that wanted to learn more about Reverse Mortgages in a one on one setting.

I have been involved in a few larger workshops as a presenter to an audience of 30 or more people. Those types of presentations are great for the masses, but I think one on one or small group settings are the best.

Smaller groups don’t need power point projectors. No microphones. No stadium seating. Just me, front and center in the living room, explaining all aspects of a reverse mortgage.

Reverse Mortgages are getting more attention every day. There’s many reasons senior citizens are considering them today. Take this evening at the book club for example:

• Helen is in her 80’s and made her last payment of a 30-year mortgage only sixty days ago. Now she is looking at her possible options to use the homes equity in her favor. Her main excitement being there is no monthly payment to repay, as she is on a fixed income.
  
• Patti on the other hand owns a condo with plenty of equity. Her concern was that her retirement is tied up in their stock accounts. With Wall Street in such turmoil, and with her recent losses in her portfolio, she is debating what to do? Sit still? Pull her money out at a loss and pay tax penalties?
  A great option for her could be a Reverse Mortgage. She can create a credit line and only draw on its funds when needed.

Remember the “The Big 3” advantages of a Reverse Mortgage.

1. No Credit Score Requirements
   
2. No Income Requirements.
   
3. No repayment of the loan till the borrower leaves the primary residence.

Call me today if you would like a one on one to discuss Reverse Mortgages. Either in my office or in your living room.

Bryan Husen

Social Security will increase in 2009

Today I was reading that Social Security benefits will increase 5.8% effective this January. This is the largest increase for benefits in 27 years. Over 55 million seniors will see an average increase of $63 dollars a month. Not a huge amount, but I am sure every little bit will help. This is tough times for seniors. Retirees with fixed incomes have seen a 51% drop in buying power since 2000 with the near doubling in prices for home heating oil and gasoline, and more than double the cost of such staple foods as eggs and potatoes. This month AARP is reporting that nearly 60% of its members are having a hard time paying for basic groceries and medicine.

With these and many other issues seniors are facing financially, it doesn’t surprise me that more Reverse Mortgages are being written every year. This financing is becoming a common solution to free up income and create a more comfortable lifestyle for seniors.

Let me list 6 Great Benefits to a Reverse Mortgage that help you enjoy a more comfortable retirement in your own home:

• Independence - You continue to own and live in your own home


• Liquidity - Receive monthly payments instead of making them


• Simplicity - No income, credit or employment requirements needed to qualify


• Choice - You may receive funds as a lump sum, in monthly instalments, as a line of credit, or as an up-front sum plus monthly allotments


• Security - Does not affect Social Security, pension or Medicare benefits


• Ownership - Your heirs can keep the property once the Reverse Mortgage is paid in full

Every month I am seeing more interest in this this safe and insured program. Please contact me today to receive a brochure or DVD that will explain in great detail and help you to understand the benifits of a Reverse Mortgage.

-Bryan Husen