If Congress had chosen a different name for Reverse Mortgages when they took over the reverse mortgage process and made it into law, maybe it would be easier to explain it to seniors, tax accountants and financial experts.
Its funny how a name can instantly close the mind of a person, and block them from wanting to learn the truth. If Congress had named the program, “Senior Security” when they made it law, I am sure the education process would be much easier.
Reverse Mortgages ARE senior security. They allow seniors to step away from the market volatility of housing and real estate and to step away from the volatility and risk of dealing with banks and traditional loans.
A Reverse Mortgage gives a senior the security of knowing that they will own their homes for the rest of their lives, and gives them the access to the money they “saved” in their home over their lives.
The credit line has government guaranteed safety and growth with an interest rate that is more than the interest charged on the loan. Even if the senior has NOT paid off their home, as long as they have worked hard enough to have enough equity to qualify for their age, this senior security gives them the right to say, “I have had enough of monthly payments. It is time for my retirement, and for me to enjoy life. I choose the security of a reverse mortgage.”
Bob
bob@az62.com
623-214-6663
www.az62.com
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